Question Details

Which of the following accounts probably would be listed after the others in a chart of accounts




  1.	Typically, the chart of accounts begins with
a.	revenue accounts.
b.	asset accounts.
c.	liability accounts.
d.	expense accounts.




	2.	The purpose of the ledger is to
a.	keep a record of documentation to support each transaction.
b.	make sure that all assets, liabilities, etc., have credit balances at all times.
c.	record chronologically the day's transactions.
d.	maintain a separate account for each asset, liability, etc.



	3.	Which of the following accounts probably would be listed before the others in a chart of accounts?
a.	Insurance Expense
b.	Grace Peterson, Withdrawals
c.	Notes Payable
d.	Accumulated Depreciation, Buildings




	4.	Which of the following accounts probably would be listed after the others in a chart of accounts?
a.	Unearned Art Fees
b.	Prepaid Rent
c.	Fran Ellis, Capital
d.	Art Fees Earned


	

	5.	The Office Supplies account is classified as a(n)
a.	expense.
b.	owner's equity account.
c.	asset.
d.	liability, if the supplies have not yet been paid for.


	6.	For which of the following accounts would a related Accumulated Depreciation account be recorded?
a.	Office Equipment
b.	Land
c.	Office Supplies
d.	Prepaid Rent




Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help