Multiple Choice
Helmsley Corporation received one year's rent in advance on a warehouse. This transaction results in a(n) ________.
A) expense
B) liability
C) asset
D) revenue
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q45: Which of the following transactions would never
Q46: The December 31 financial statements of Jagger
Q47: If service revenue is $260,000, total expenses
Q48: If the total of all debit entries
Q49: All of the following accounts are temporary
Q51: In transferring information to the general ledger,
Q52: Jackson Company sold land that had been
Q53: If a company fails to adjust a
Q55: Bradley Company paid $25,000 in dividends to
Q61: The normal balance of a liability account