Which of the Following Accounts Would Not Be Reported on the Balance

question 105

Multiple Choice

Which of the following accounts would not be reported on the balance sheet?

• A)Retained earnings.
• B)Inventory.
• C)Accounts payable.
• D)Dividends.

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Definitions:

Income Associated

Revenue that is directly tied to specific activities or sources, such as employment, investments, or business operations.

Deductibility

The quality of an expense being allowed by tax laws to be subtracted from gross income to reduce taxable income.

Moving Expenses

Costs associated with moving for work, which may be deductible under certain conditions for tax purposes.

Pre-Move House Hunting

Expenses incurred while searching for a new residence before relocating for a job, which may be deductible or reimbursable under certain circumstances.