A distribution by a sole proprietorship to the owner is called a withdrawal.
Answer the following statement true (T) or false (F)
True
Withdrawals are distributions to the owners of sole proprietorships. Dividends are distributions to corporate stockholders.
Business
You might also like to view...
Briefly explain the difference between a planning outline and a speaking outline
What will be an ideal response?
Business
The costs of selling goods or rendering services used in the process of earning revenues are called:
a. expenses. b. assets. c. profits. d. liabilities.
Business
An implied-in-fact contract is one based on the conduct of the parties
Indicate whether the statement is true or false
Business
Enterprise funds are reported in the fund-basis statements only.
Answer the following statement true (T) or false (F)
Business