The categories to which various costs are charged in the normal financial accounting cycle are:
A) Natural accounts.
B) Functional accounts.
C) Cash accounts.
D) Expense accounts.
E) None of the above.

Question

Quizplus · Accepted Answer

The categories to which various costs are charged in the normal financial accounting cycle are referred to as natural accounts. These are accounts that are used to track and classify financial transactions based on their nature or type. Examples include asset accounts, liability accounts, revenue accounts, and expense accounts. Functional accounts, cash accounts, and expense accounts are not the primary categories used in financial accounting.

The Categories to Which Various Costs Are Charged in the Normal