accounting 205

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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

  • accounting 205 -

    This has no effect on assets, liabilities, or owner’s equity.

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