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Question
‘Cash withdrawn by the proprietor from the business for his personal use’ causes ____________.
Options
Decrease in assets and decrease in owner’s capital
Increase in one asset and decrease in another asset
Increase in one asset and increase in liabilities
Increase in asset and decrease in capital
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Solution
‘Cash withdrawn by the proprietor from the business for his personal use’ causes Decrease in assets and decrease in owner’s capital.
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