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Which one of the following accounts is the most liquid?
Select one:
a. Building.
b. Inventory.
c. Equipment.
d. Land.
e. Accounts Receivable.
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- 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, debitThe income statement is drawn up from the figures in the _________________ Select one: a. Accounts Receivable ledger b. Accounts payable ledger c. Trial Balance d. Cash Flow StatementFind the following using the data bellow a. Accounts receivable B. Current assets C. Total assets D. Return on assets E. Common equity F. Quick ratio
- When recording the chart of accounts, the field you use to classify financial statement accounts is called : Select one A. Account description B. Account type C. Active designation D. Account IDWhich of the following accounts has a normal debit balance? A. Interest Revenue B. Inventory C. Sales D. Accounts PayableWhich of the following accounts is increased by a debit?A. Common StockB. Accounts PayableC. SuppliesD. Service Revenue
- Which one of the following is used to prepare ledger account? a. Transactions b. Events c. Income statement d. JournalAccounts receivable can be classified as _____ a. A Expense. b. A Liability. c. A Capital d. An AssetUnder which of the following categories would Accounts Receivable appear? A. long−term assets B. current assets C. long−term liabilities D. current liabilities
- which one of the following accounts normally has a credit balance? A. Drawings B. Capital C. Cash D. PremisesAccounts receivable is classified as an _______________ a. An Asset b. A Expense. c. A Capital d. A Liability.Which of the following checks the arithmetical accuracy of accounts? O a. Balance sheet O b. Journal O c. Trial balance O d. Ledger