Identify the List of Accounts Below That Would Normally All

question 11

Multiple Choice

Identify the list of accounts below that would normally all have a credit balance.

• A) Salaries Payable,Employee Income Tax Payable,Owner's Capital
• B) Salaries Payable,Prepaid Insurance,Medicare Tax Payable
• C) Wages Expense,Salaries Payable,Equipment
• D) Employee Income Tax Payable,Social Security Tax Payable,Salaries Expense

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Definitions:

Traditional Format

Generally refers to a conventional or long-established way of formatting or presenting data, documents, or accounting reports.

Selling Expenses

Costs incurred to sell products, including advertising, sales commissions, and promotional materials, that are not directly associated with the production of goods.

Administrative Expenses

Costs related to the general operations of a company, such as salaries of non-production staff, office supplies, and utilities.

Merchandise Inventory

Goods a company holds for the purpose of resale in the normal course of business.