The chart of accounts of a movie theater would probably include
A) retained earnings.
B) a drawing account.
C) work-in-process.
D) both A and C

Question

Quizplus · Accepted Answer

A movie theater, being a corporation, would have retained earnings as part of its equity accounts. A drawing account is typically used in sole proprietorships or partnerships, and work-in-process is relevant to manufacturing, not a service business like a movie theater.

The Chart of Accounts of a Movie Theater Would Probably