Solved

Match Each Account Name to the Financial Statement Section in Which

Question 244

Matching

Match each account name to the financial statement section in which it would appear.

Premises:
Accumulated Depreciation—Buildings
Depreciation Expense
Amortization Expense
Land Improvements
Gain on Sale of Equipment
Loss on Disposal of Asset
Loss from Impaired Goodwill
Research and Development Costs
Responses:
Current Assets
Fixed Assets
Intangible Assets
Current Liability
Long-Term Liability
Owners’ Equity
Revenues
Operating Expenses
Other Income/Expense

Correct Answer:

Current Assets
Fixed Assets
Intangible Assets
Current Liability
Long-Term Liability
Owners’ Equity
Revenues
Operating Expenses
Other Income/Expense
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