Fatima withdraws goods from the business for personal use. The accounting treatment is to debit - SchoolNGR

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Fatima withdraws goods from the business for personal use. The accounting treatment is ...

Fatima withdraws goods from the business for personal use. The accounting treatment is to debit

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

A Stock account and credit profit and loss account
B Profit and loss account and credit drawings account
C Drawings account and credit stock account
D Stock account and credit drawings account

Correct Answer: Option C

Explanation:
Drawings increase when goods are taken for personal use, while stock decreases.

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