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87) Identify the account below that is classified as an asset in a company's chart of accounts: A) Accounts Receivable B) Accounts Payable C) Owner's Capital D) Unearned Revenue E) Service Revenue Answer: A Difficulty: 1 Easy Topic: Chart of Accounts Learning Objective: 02-C3 Describe a ledger and a chart of accounts. Bloom's: Remember AACSB/Accessibility: Analytical Thinking / Keyboard Navigation AICPA: BB Industry; FN Decision Making 88) Identify the account below that is classified as an asset account: A) Unearned Revenue B) Accounts Payable C) Supplies D) J. Jackson, Capital E) Service Revenue Answer: C Difficulty: 1 Easy Topic: The Account and Its Analysis Learning Objective: 02-C2 Describe an account and its use in recording transactions. Bloom's: Remember AACSB/Accessibility: Analytical Thinking / Keyboard Navigation AICPA: BB Industry; FN Decision Making 89) Identify the account below that is classified as a liability account: A) Cash B) Accounts Payable C) Salaries Expense D) J. Jackson, Capital E) Equipment Answer: B Difficulty: 1 Easy Topic: The Account and Its Analysis Learning Objective: 02-C2 Describe an account and its use in recording transactions. Bloom's: Remember AACSB/Accessibility: Analytical Thinking / Keyboard Navigation AICPA: BB Industry; FN Decision Making

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Test Bank for Fundamental Accounting Principles 24th Edition Wild  

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