Revenue, expenses, and withdrawals are subdivisions of
A) assets.
B) liabilities.
C) owner's equity.
D) All of these answers are correct.

Question

Quizplus · Accepted Answer

Revenue, expenses, and withdrawals are subdivisions of owner's equity. Revenue and expenses affect the profitability of the business, while withdrawals represent the owner's personal use of company funds. These transactions are recorded in the owner's equity section of the balance sheet.

Revenue, Expenses, and Withdrawals Are Subdivisions of