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Identify the Following as an Asset (A), Liability (L), or Equity

Question 46

Matching

Identify the following as an asset (A), liability (L), or equity (E) by writing the letter of the correct classification in the space provided.

Premises:
Accounts payable
Office equipment
Accounts receivable
Common stock
Cash
Contributed capital
Wages payable
Unearned revenue
Responses:
liability
equity
asset

Correct Answer:

Accounts payable
Office equipment
Accounts receivable
Common stock
Cash
Contributed capital
Wages payable
Unearned revenue
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