Can we purchase asset by the money

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1359 Points Posted on 10 November 2021
can we purchase asset by the money of business and use it for personal use ???
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On 10 November 2021 at 13:04 Report
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This discussion delves into whether business funds can be used to purchase assets for personal use. Technically, this is not permissible. However, practically, it might be possible until it's explicitly disallowed. For sole proprietorships or partnerships, such transactions could potentially be recorded as drawings.

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SEO Sai Gr. Hosp.
212453 Points Posted on 10 November 2021

Technically No....

Practically........... till it is disallowed...

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On 10 November 2021 at 14:10
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Team Lead
7558 Points Posted on 10 November 2021
Yes you can. and show it as drawings if it's a proprietary/partnership.
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On 10 November 2021 at 21:32

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