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Account Types
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Account Types
Account Types
Accounting Play 1
2022-11-07T16:08:53+00:00
Quiz - Account Types
1
Information
2
Question 1-10
3
Question 11-20
4
Question 21-30
5
Question 31-40
6
Question 41-45
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1. Bonds payable, due in year 8, classification:
Noncurrent liability
Current asset
Noncurrent asset
Contra equity
2.
Treasury stock
, classification:
2.
Treasury stock
, classification:
Noncurrent liability
Contra equity
Noncurrent asset
Current asset
3.
Accounts payable
, classification:
2.
Treasury stock
, classification:
Noncurrent liability
Contra equity
Current liability
Contra asset
4. Sales discounts, classification:
Noncurrent liability
Contra equity
Current liability
Contra
revenue
5.
Notes payable
, due in nine months, classification:
5.
Notes payable
, due in nine months, classification:
Current liability
Noncurrent asset
Contra asset
Contra
revenue
6.
Inventory
, classification:
6.
Inventory
, classification:
Noncurrent liability
Current asset
Current liability
Contra asset
7.
Accounts receivable
, classification:
7.
Accounts receivable
, classification:
Owners' equity
Noncurrent asset
Current asset
Contra asset
8.
Common stock
, classification:
8.
Common stock
, classification:
Noncurrent liability
Contra asset
Contra
revenue
Owners' equity
9. Cost of goods sold, classification:
Expense
Noncurrent asset
Contra asset
Noncurrent asset
10. Allowance for uncollectible accounts, classification:
Owners' equity
Contra asset
Current asset
Noncurrent liability
11. Which of the following is an asset?
Accounts payable
Prepaid expense
Retained earnings
Bonds payable
12. Which of