Multiple Choice
Non-posting accounts:
A) Track information required for the accounting system
B) Do not appear on the Balance Sheet
C) Do not appear on the Income Statement
D) All of the choices are correct
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Balance Sheet accounts are also called:<br>A)Permanent accounts<br>B)Temporary
Q3: Briefly explain the purpose of account numbers
Q4: Which of the following is a temporary
Q5: Which account below is not an Expense
Q6: What does the Chart of Accounts list?<br>A)Assets,liabilities
Q8: Which of the following is an asset?<br>A)Mortgage
Q9: Which of the following is not considered
Q10: Which of the following is a liability?<br>A)Accounts
Q11: The Income Statement:<br>A)Lists the accounts and account
Q12: Briefly explain the purpose and benefits of