English

Answer in One Sentence: What is Drawings? - Book Keeping and Accountancy

Advertisements
Advertisements

Question

Answer in One Sentence:

What is Drawings?

One Line Answer

Solution

The amount of cash or value of goods, assets, etc. withdrawn from the business by the owner for personal use is known as Drawings.

shaalaa.com
Basic Accounting Terminologies
  Is there an error in this question or solution?
Chapter 1: Introduction to Book - Keeping and Accountancy - EXERCISE [Page 16]

APPEARS IN

Balbharati Book Keeping and Accountancy [English] 11 Standard Maharashtra State Board
Chapter 1 Introduction to Book - Keeping and Accountancy
EXERCISE | Q 1. 4) | Page 16

RELATED QUESTIONS

Answer in One Sentence:

What is Goodwill?


Give the word term or phrase which can substitute the following statement:

A person to whom amount is payable.


Give the word term or phrase which can substitute the following statement:

Property of any description owned by Proprietor.


Give the word term or phrase which can substitute the following statement:

Allowance is given on catalogue price of goods


Select the most appropriate alternative from the given below and rewrite the statement.

_________ means a reputation of a business valued in terms of money.


Select the most appropriate alternative from the given below and rewrite the statement.

An act of exchange of things or services between the two parties is termed as______.


State whether the following statement is true or false with reasons:

Solvent person is a person whose assets are more than his liabilities.


State whether the following statement is true or false with reasons:

A transaction is concerned with money or money’s worth


Do you agree or disagree with the following statements :

In Book-keeping and Accountancy, only non-monetary transactions are recorded.


Complete the following sentence:

Revenue arising as a result of business transactions is known as ____________


Complete the following sentence:

An expenditure which is basically revenue in nature but benefit of which is not exhausted within one year is called as ____________


Complete the following sentence:

The amount deducted by the seller from the list price of goods at the time of sale is ____________


Complete the following sentence:

A person to whom business owes money for the goods or services is known as ____________


Do you agree or disagree with the following statement:

The Assets which give long-term benefit to the business are Fixed Assets.


Answer in One Sentence:

What is meant by Goods?


Answer in One Sentence:

What is meant by Goods?


What is meant by Goods?


What is meant by Goods?


Answer in One Sentence:

What is meant by Goods?


Answer in One Sentence:

What is meant by Goods?


Share
Notifications

Englishहिंदीमराठी


      Forgot password?
Use app×