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- Multiple ChoicePlease save your changes before editing any questions.
It includes money and any medium of exchange acceptable by bank for deposit such as bills, coins, funds for current purposes, checks, cash in bank, etc.
Cash
Accounts Receivables
Notes Payable
Utilities Expense
- Multiple ChoicePlease save your changes before editing any questions.
These are economic obligations, debts or payables of the business.
Assets
Liabilities
Owner's Equity
- Multiple ChoicePlease save your changes before editing any questions.
It is due from customer evidenced by a written promise to pay a definite sum of money for a specified period of time.
Accounts Receivable
Notes Receivable
Accounts Payable
Notes Payable
- Multiple ChoicePlease save your changes before editing any questions.
This account is an example of a liability account that serves as an evidence through written promised to pay a specific amount of money in the future.
Notes Payable
Notes Receivable
Accounts Payable
Accounts Receivable
- Multiple ChoicePlease save your changes before editing any questions.
It refers to the initial and additional contributions of owner/s (investments),
Cash
Capital
Drawing
- Multiple ChoicePlease save your changes before editing any questions.
These are the withdrawals made by owner/s (dividends for corporations)
Capital
Income
Drawings
Prepaid Expenses
- Multiple ChoicePlease save your changes before editing any questions.
These are the costs of promoting the business such as those incurred in newspaper publications, television and radio broadcasts, billboards, flyers, etc.
Delivery Expense
Advertising Expense
Insurance Expense
Rent Expense
- Multiple ChoicePlease save your changes before editing any questions.
It refers to the cost paid or to be paid to a lessor for the right to use a commercial property such as an office space, a storeroom, a building, etc.
Insurance Expense
Repairs and Maintenance Expense
Rent Expense
Bank Service charge
- Multiple ChoicePlease save your changes before editing any questions.
It refers to the costs of materials used by the business.
Supplies Expense
Salaries Expense
Training and Development Expense
Utilities Expense
- Multiple ChoicePlease save your changes before editing any questions.
It refers to the amount of money that part of the earnings of the company.
Capital
Drawings
Income