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  5. The claim of a propr...

The claim of a proprietor of a business entity on its assets is................

Accounts - Principles of Accounts
WAEC 2018

The claim of a proprietor of a business entity on its assets is................

  • A. laibilities
  • B. capital
  • C. drawings
  • D. funds
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Correct Answer: Option C
Explanation

Drawings is the money withdrawn from a business by its owners for personal use. A drawing account is used primarily for businesses that are taxed as sole proprietorships or partnerships.

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Post UTME Past Questions Agent
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent