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Chapter 2 Recording Business Transactions

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Question;19) A liability created when a business;collects cash from customers in advance of providing services or delivering;goods is called a(n) ________.;A) notes receivable;B) unearned revenues;C) equity;D) revenues;20) Which of the following is a liability;account?;A) Service Revenue;B) Building;C) Accounts Receivable;D) Unearned Revenue;21) A listing of all account titles in;numerical order is called a(n) ________.;A) ledger;B) journal;C) income statement;D) chart of accounts;22) Which of the following is an asset;account?;A) Cash;B) Notes Payable;C) Dividends;D) Expenses;23) Which type of an account is Common;Stock?;A) equity;B) asset;C) liability;D) revenue;Learning;Objective 2-2;1) Debit refers to the right side of the;T-account and credit refers to the left side.

 

Paper#55119 | Written in 18-Jul-2015

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