General Accounting General Accounting MCQWhich of the following is a liability?I. Accounts Payable2. Accounts Receivable3. Cash4. Retained Earnings

Option 1: This option is correct because accounts payable represents the amounts owed by a company…

Answered: General Accounting MCQ Which of the…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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Which of these accounts is a liability? A. Accounts Receivable B. Supplies C. Salaries Expense D. Accounts Payable
10. Accounts receivable and accounts payable are most likely classified as which financial statement elements? Accounts receivable Accounts payable Revenues Liabilities Assets Liabilities Revenues Expenses
Which of the following is a liability? a) Cash b) Accounts Receivable Accounts Payable d) Retained Earnings
Accurate answer
Which of the following groups of accounts increase with a credit? Oa. assets, common stock, revenues Ob. common stock, revenues, expenses Oc. liabilities, common stock, revenues
Under which of the following categories would Accounts Receivable appear? A. long−term assets B. current assets C. long−term liabilities D. current liabilities
Finance Mcq
On which financial statement would the ending balance of the account “accounts receivable” be found?a. Income statementb. Statement of retained earningsc. Balance sheetd. Statement of cash flows
29 When a liability is paid, which account should be credited? A, Cash B.Accounts payable C. Expense D. Accounts receivable
ductory financial accounting_ Liquidity is simply: O a. another term for non-current assets O b. a company's ability to pay obligations when due O c. another term for current liabilities O d. another term for cash ype here to search
Which of the following best describes the classification and normal balance of the accounts receivable account? Select one: a. Asset, Debit b. Liability, credit c. Revenue, credit d. Owner's equity, debit
Which of the following accounts is increased by a debit?A. Common StockB. Accounts PayableC. SuppliesD. Service Revenue

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General Accounting MCQ Which of the following is a liability? I. Accounts Payable 2. Accounts Receivable 3. Cash 4. Retained Earnings