Which of the following is an example of an asset?
A) Prepaid Insurance
B) Accounts Payable
C) Capital
D) Outstanding Rent
Correct Answer:
Verified
Q29: An example of a liability is
A) Cash.
B)
Q30: Prepaid Insurance is a(n)
A) asset.
B) liability.
C) revenue.
D)
Q31: Accounts Receivable is a(n)
A) asset.
B) liability.
C) revenue.
D)
Q32: A one-owner business is called a
A) corporation.
B)
Q33: When a company pays salaries to an
Q35: Which of the following represents the costs
Q36: The borrowing of money will
A) increase owner's
Q37: Petkus Company paid Perkins Products, a creditor,
Q38: The liability account _ is used for
Q39: Which of the following is true?
A) Double-entry
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