--%>

Meaning of drawing

What is the meaning of drawing in financial accounting?

E

Expert

Verified

We employ drawing numerous times in financial accounting. Drawing here means any amount withdraws from business for personal utilization. Not only cash however when we withdraw any product from business or any asset of business for personal utilization which will be drawing. This surely decreases the capital of any business. Therefore business man should record drawing in his books and hence accountant can compute accurate gain or loss of business man.

   Related Questions in Financial Accounting

  • Q : International diversification Evaluate

    Evaluate the home country’s multinational corporations as a tool for the international diversification.

  • Q : Balance of payments deficit or surplus

    Describe how country may run an overall balance of payments deficit or surplus.

  • Q : Leadership qualities required for

    Question Can one person in an organization make a difference? Write an essay on the leadership qualities required for running modern organizations <

  • Q : Matlab Applications in Communication

    Communication system is the discipline in engineering curriculum which is more of the conceptual rather than theoretical. Mainly student faces trouble in understanding the core concepts of this topic. We have team of highly competent and prac

  • Q : Accounting Acquisition Entry and

    Acquisition Entry and Consolidation Working Paper On January 31, 2014, Phoenix, Inc. acquired all of the outstanding common stock of Spark Corporation for $400 million cash plus 25 million shares of Phoenix' $10 par value common stock having a market value of $90 per share. Registration fees were $

  • Q : Types of international banking offices

    List different types of the international banking offices.

  • Q : European term bid-ask quotes Restate

    Restate following one-, three-, and six-month outright forward European term bid-ask quotes in forward points. Spot               1.3431-1.3436

    Q : Darwin and Moths Conduct an internet

    Conduct an internet search by using the terms Darwin and Moths ("Darwin Moths", without the quotes). Learn about this famous illustration of Darwin's theory of natural selection, and write a brief paragraph describing it.

  • Q : Advantages for giving Cash Discount

    What are various advantages for giving Cash Discount?

  • Q : Advantages and disadvantages of gold

    Write the advantages and disadvantages of the gold standard.