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Where a proprietor withdraws stock for personal consumption, the accounting entries to ...
Classroom
Accounts - Principles of Accounts Classroom
Waec
Waec 2005
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Where a proprietor withdraws stock for personal consumption, the accounting entries to record the transaction are
SchoolNGR Classroom
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
A
Debit drawings account, credit purchases account
B
Debit purchases account, credit sales account
C
Debit sales avvount, credit drawings account
D
Debit drawings account, credit sales account
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Correct Answer:
Option A
Explanation:
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Accounts - Principles of Accounts
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