Identify the correct classification for the following five ledger accounts:
A) 1 asset,2 expense,3 expense,4 asset,5 expense.
B) 1 asset,2 expense,3 asset,4 expense,5 liability.
C) 1 asset,2 expense,3 expense,4 asset,5 liability.
D) 1 expense,2 expense,3 expense,4 expense,5 expense.

Question

Identify the correct classification for the following five ledger accounts: 
A) 1 asset,2 expense,3 expense,4 asset,5 expense. 
B) 1 asset,2 expense,3 asset,4 expense,5 liability. 
C) 1 asset,2 expense,3 expense,4 asset,5 liability. 
D) 1 expense,2 expense,3 expense,4 expense,5 expense.

Quizplus · Accepted Answer

The Answer is C

Identify the Correct Classification for the Following Five Ledger Accounts