Accounts with normal credit balances include: a) Assets and liabilities b) Revenues and expenses c) Liabilities and revenues d) Revenues and assets ME13 The chart of accounts lists a company's accounts in what order? a) Assets, liabilities, revenues, expenses, stockholders' equity b) Assets, revenues, expenses, liabilities, stockholders' equity c) Assets, liabilities, stockholders' equity, expenses, revenue d) Assets, liabilities, stockholders' equity, revenues, expenses

Accounts with normal credit balances include: a) Assets and liabilities b) Revenues and expenses c) Liabilities and revenues d) Revenues and assets ME13 The chart of accounts lists a company's accounts in what order? a) Assets, liabilities, revenues, expenses, stockholders' equity b) Assets, revenues, expenses, liabilities, stockholders' equity c) Assets, liabilities, stockholders' equity, expenses, revenue d) Assets, liabilities, stockholders' equity, revenues, expenses

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

ME12
Accounts with normal credit balances include:
a) Assets and liabilities
b) Revenues and expenses
c) Liabilities and revenues
d) Revenues and assets
ME13
The chart of accounts lists a company's accounts in what order?
a) Assets, liabilities, revenues, expenses, stockholders' equity
b) Assets, revenues, expenses, liabilities, stockholders' equity
c) Assets, liabilities, stockholders' equity, expenses, revenue
d) Assets, liabilities, stockholders’ equity, revenues, expenses

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