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October 20, 2014

Homework Help: accounting 205

Posted by bernagene on Sunday, July 8, 2012 at 5:14pm.

A proprietor makes a cash withdrawal from the proprietorship. How does this affect the accounting equation? (Points : 1)
This has no effect on assets, liabilities, or owner’s equity.
Assets decrease; owner’s equity decreases.
Assets increase; liabilities decrease.
Assets decrease; owner’s equity increases

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