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What are Drawings?
34. What are Drawings?
- Accounting method used to allocate the cost of a tangible or physical asset over its useful life or life expectancy.
- The amount of cash that a business disburses.
- An increase in the value of an asset over time.
- Money that is taken from the business account for personal use.
Answer: D) Money that is taken from the business account for personal use
Explanation:
Drawing in accounts is the record kept by a business owner or accountant that shows how much money has been withdrawn by business owners.