If assets are numbered from 100-199,which of the following accounts would not be given a number in the 100 series?
A) Supplies
B) Accounts Payable
C) Prepaid Rent
D) Accounts Receivable

Question

Quizplus · Accepted Answer

Accounts payable would not be given a number in the 100 series because it is a liability account and would typically be numbered in the 200-299 range. The other accounts listed (supplies, prepaid rent, accounts receivable) are all asset accounts and would be numbered in the 100 series.

If Assets Are Numbered from 100-199,which of the Following Accounts