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Question 5 Which among the following is correct for drawings? Not yet answered Marked out of 1.00 a. It is the amount the owner has taken out of the business for personal use O b. It is the amount the business has earned. P Flag question O c. It is the amount the business has spent. O d. It is the amount the owner has invested in the business. Question 6 Not yet A business will have Net profit in which of the following cases? answered Marked out of 1.00 Flag question O a. Expenses are less than revenue O b. Expenses are greater than income O c. Expenses are equal to income O d. Liabilities are greater than income O Question 7 Which of the following accounts are under owners equity? Not yet answered Marked out of 1.00 a. Unearned revenue O b. Retained Earnings P Flag question c. Cash O d. Prepaid expense Question 8 Cash received from sale made on account last month affects which of the following accounts? Not yet answered Marked out of 1.00 O a. Cash and Service Revenue Flag question b. Cash and Notes Payable o c. Cash and Salary Expense d. Cash and Accounts Receivable