11 Assets taken out of a business for the personal use of an owner A. must be in the form of cash. B. are usually cash or merchandise. C. should be recorded as credits to the partners' drawing accounts. D. should be recorded as debits to the partners' capital accounts. QUESTION 8 When a business keeps its accounting records assuming that it will make money and continue in business indefinitely, it is applying the Consistent Reporting accounting concept. True False QUESTION 3 When a business requires the skills of more than one person and needs more capital than one owner can provide it should be organized as a proprietorship. O True False