--%>

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 : Asset-allocation funds Mutual funds

    Mutual funds that hold both bonds and stocks. Some asset-allocation funds follow specified allocation percentages and others take advantage of current condition. Those that take advantage of current condition is higher risk, because the fund manager tries to adjust the allocations to take advanta

  • Q : Economic exposure How economic exposure

    How economic exposure can be defined in order to exchange the risk?

  • Q : Creative thinking & Problem solving

    General Instructions: In composing your responses to all tasks, please use full sentences and pay careful attention to spelling, grammar, punctuation, and clarity of expression. Both the content of your work and its present

  • Q : Define Margin Improvement Margin

    Margin Improvement: Margins in the business remained beneath pressure, even previous to the economic downturn for the industry as an entire, returns on capital have continued under the cost of capital. Previous to the falls in the second half of the y

  • Q : Define Revenue Revenue : The amount

    Revenue: The amount (sum) of money which a company really receives throughout a specific period, comprising discounts and deductions for the returned merchandise. This is the "top line" or "annual income" figure from which costs are subtracted to find

  • Q : Retail Invoice versus Tax Invoice

    Explain the difference between Retail Invoice vs. Tax Invoice?

  • Q : Benefits of investing through

    List the benefits of investing through the international mutual funds?

  • Q : Letter of Credit What do you mean by

    What do you mean by Letter of Credit?

  • Q : Quick establishment of the interest

    If cost advantage of the interest rate swaps might likely be arbitraged away within the competitive markets, what other explanations exists in order to describe quick establishment of interest rate swap market?

  • Q : Functions of Bank Write some of the

    Write some of the functions of Bank?