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 of 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.

Identify the Correct Classification for the Following Five Ledger Accounts