aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
  • Accounting Fall Semester Online Test
  • The asset most commonly withdrawn by business owners.
Multiple choice

The asset most commonly withdrawn by business owners.

  1. cash

  2. supplies

  3. prepaid insurance

  4. equipment

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Cash is the most liquid asset and is the most common asset withdrawn by owners for personal use.

Keep practicing — related questions

  • Property and other items of value owned by a business.
  • Assets are held in the business for the purpose of
  • Mahesh ran a business on borrowed capital. After his sudden demise, all the creditors are doing their best ...
  • If capital of the business is Rs. 40,000 and liabilities are Rs. 20,000 then the total assets will be
  • Which of the following is correct? (a) A company can commence its business without obtaining Certificate of...
  • Some common nouns have more than one collective noun. Choose a common noun for the given collective nouns. ...
  • Most of the common fuels are either free carbon or carbon compounds. Which of the following common fuels co...
  • A partnership has two partners. The firm has total assets of Rs. 25 lakh and liabilities of Rs. 10 lakh. Pa...
Play the full quiz 🎤 Practise this topic out loud

Practice this topic

  • Accounting Principles and Practice (1241 questions)
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy