Multiple Choice
The accountant for a new company is establishing the chart of accounts for the company based on the accounts he expects to be used. He has decided to use a three digit account number with each account type starting with a different number. Which of the following numbers would you expect the Asset range to begin with?
A) 900
B) 700
C) 300
D) 200
E) 100
Correct Answer:
Verified
Correct Answer:
Verified
Q11: A $130 credit to Supplies was credited
Q31: Richard Redden contributed $70,000 in cash and
Q33: Grills R Us Catering provided $1,000 of
Q39: A company's chart of accounts is a
Q49: Willow Rentals purchased office supplies on credit.The
Q96: A company had total assets of $350,000,
Q113: The heading on every financial statement lists
Q180: Posting is the transfer of journal entry
Q183: You decrease the Accounts Payable account on
Q241: Explain the recording and posting processes.