Accountıng I Deneme Sınavı Sorusu #1149453

.......................... are withdrawals of cash or other assets by the owner for personal use.


Revenues

Expenses

Contributions by owner(s)

Residual equity

Distributions to owner(s)


Yanıt Açıklaması:

Contributions by owner are the assets put in the business by the owner. Distributions to owner are withdrawals of cash or other assets by the owner for personal use. Expenses are the cost of assets consumed or services rendered in the process of earning revenue. Revenues are the gross increase in owner’s equity resulting from business activities entered into for the purpose of earning income.  The owner’s equity is also called as residual equity.

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