Q5The amount drawn by businessmen for his personal use is-
(1) Drawing
(2) Capital
(3) Loss.
(4) Expenditure
Answer
Capital
Related Questions on Theory Base of Accounting
Q6.Meaning of credibility of going concern is:
(1) Opening of business
(2) Closing of business
(3) None of these.
(4) Continuing of business
Answer
Continuing of business
Q7.The sum of Liabilities and Capital is-
(1) Income
(2) Expense
(3) Assets.
(4) Drawings
Answer
Assets.