Explain why withdrawals by the owner of a sole proprietor business reduce the owners equity but not
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Explain why withdrawals by the owner of a sole proprietor business reduce the owner’s equity but not the profit for the period.
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Withdrawals by the owner of a sole proprietorship reduce the owners equity but do not affect the profit for the period because of the way financial tr...View the full answer
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Related Book For 
Fundamental Accounting
ISBN: 9781485112112
7th Edition
Authors: David Flynn, Carolina Koornhof, Ronald Arendse, Anna C. E. Coetzee, Edwardo Muriro, Louise Christel Posthumus, Louise Mancy Smit
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