Which of the following is considered a accounts nominal account? (a) Rent Expense (b) Cash (c) Inventory (d) Accounts Payable
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- Under which of the following categories would Accounts Receivable appear? A. long−term assets B. current assets C. long−term liabilities D. current liabilitiesWhich of the following items is not a specific account in acompany’s accounting records?a. Accounts Receivableb. Net Incomec. Sales Revenued. Unearned RevenueWhich account is least likely to be debited when revenueis recorded?a. Accounts Payableb. Accounts Receivablec. Cashd. Unearned Revenue
- 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, debitWhich of the following accounts normally has a debitbalance?a. Unearned Revenueb. Rent Expensec. Retained Earningsd. Sales RevenueIn which of the following types of accounts are increases recorded by credits? A. revenues and liabilities B. drawing and assets C. expenses and liabilities
- How is the account Accounts Payable classified and what kind of balance should it have? Group of answer choices current liability, debit current liability, credit revenue, debit revenue, creditWhich of the following accounts has a normal debit balance? A. Interest Revenue B. Inventory C. Sales D. Accounts PayableWhich of the following is a nominal account? a. Retained earnings b. Accounts receivable c. Purchase returns and allowances d. Accumulated depreciation
- Which of the following is an asset account? O A. Unearned Revenue O B. Notes Payable OC. Accounts Receivable O D. Wages PayableWhich of the following accountThe following source document is used to support the transactions related to returns outwards to creditors/accounts payables: O a. Purchases invoices O b. Debit note O c. Credit note O d. Payable note
