Asset is defines as..

A. economic resourced incurred by the business

B. economic resource generated by the business

C. economic resourced owed by the business

D. economic resource owned by the business

Profits is a..

A. debit account

B. credit accounts

C. contra account

D. not an account

A return inward is.

i. contra to purchase

ii. contra to sale

iii. debit account

iv. credit account

A. i and iii

B. i and iv

C. ii and iii

D. ii and iv

Which of the following is false about drawings?

A. is a capital reduction

B. is an expense

C. when owner took out money / goods from business

D. is a debit entry

Please answer this ASAP!! Thank you:)