Question 23 0/1 point For each of the following, insert TWO answers. The first answer identifies the account type: asset, liability, equity, revenue, or expense. The second answer identifies the account as real or nominal. 7. Smith, Drawings Asset Liability V Equity Revenue Expense V Real Nominal For each of the following, insert TWO answers. The first answer identifies the account type: asset, liability, equity, revenue, or expense. The second answer identifies the account as real or nominal. 10. Interest income V Asset Liability Equity Revenue Expense V Real Nominal

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Pleaes point out the incorrect answer(s) and give the me the correct ones and explain. Thank you

Question 23
0/1 point
For each of the following, insert TWO answers. The first answer identifies the account type: asset, liability, equity, revenue, or
expense. The second answer identifies the account as real or nominal.
7. Smith, Drawings
Asset
Liability
V Equity
Revenue
Expense
V Real
Nominal
Transcribed Image Text:Question 23 0/1 point For each of the following, insert TWO answers. The first answer identifies the account type: asset, liability, equity, revenue, or expense. The second answer identifies the account as real or nominal. 7. Smith, Drawings Asset Liability V Equity Revenue Expense V Real Nominal
For each of the following, insert TWO answers. The first answer identifies the account type: asset, liability, equity, revenue, or
expense. The second answer identifies the account as real or nominal.
10. Interest income
V Asset
Liability
Equity
Revenue
Expense
V Real
Nominal
Transcribed Image Text:For each of the following, insert TWO answers. The first answer identifies the account type: asset, liability, equity, revenue, or expense. The second answer identifies the account as real or nominal. 10. Interest income V Asset Liability Equity Revenue Expense V Real Nominal
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