What term is used as the amount charged from the owner for withdrawing money from the business?

Share in profit

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Interest on Drawings

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Commission

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Interest on Capital

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Solution

The correct option is B
Interest on Drawings

Interest on drawings is charged from the owner for withdrawing money from the business.

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What term is used as the amount charged from the owner for withdrawing money from the business?

The correct option is B Interest on Drawings Interest on drawings is charged from the owner for withdrawing money from the business.

The correct option is B
Interest on Drawings

Interest on drawings is charged from the owner for withdrawing money from the business.