Account classification involves systematically:
A) Classifying a company's list of revenue accounts into fixed and variable categories.
B) Classifying a company's list of accounts into asset, liability, shareholders' equity, revenue, and expense accounts.
C) Classifying a company's list of cost accounts into fixed and variable categories.
D) Classifying a company's list of accounts into revenue and expense accounts only.

Question

Quizplus · Accepted Answer

The Answer of Account classification involves systematically:
A) Classifying a company's list of revenue accounts into fixed and variable categories.
B) Classifying a company's list of accounts into asset, liability, shareholders' equity, revenue, and expense accounts.
C) Classifying a company's list of cost accounts into fixed and variable categories.
D) Classifying a company's list of accounts into revenue and expense accounts only.

Account Classification Involves Systematically