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Chapter 2 Recording Business Transactions

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Question

Question;11) Which of the following is a liability;account?;A) Accounts Receivable;B) Cash;C) Building;D) Notes Payable;12) Which of the following is an asset;account?;A) Wages Payable;B) Notes Payable;C) Unearned Revenue;D) Accounts Receivable;13) A customer's promise to pay in the;future for services or goods sold is called a(n) ________.;A) Accounts Receivable;B) Accounts Payable;C) Unearned Revenue;D) Notes Payable;14) Which of the following is a collection;of all the accounts, the changes in those accounts, and their balances?;A) a source document;B) a journal;C) a ledger;D) a trial balance;15) Which of the following is an asset;account?;A) Salaries Expense;B) Accounts Payable;C) Service Revenue;D) Prepaid Expense;16) Which of the following is a liability;account?;A) Accounts Payable;B) Prepaid Expense;C) Salaries Expense;D) Service Revenue;17) Amounts earned from delivering goods;or services to customers are called ________.;A) notes receivable;B) unearned revenues;C) equity;D) revenues;18) Which of the following details is;provided in a typical chart of accounts?;A) account balance;B) account number;C) dates of transactions;D) transaction amounts

 

Paper#55118 | Written in 18-Jul-2015

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