Identify the Account Below That Impacts the Equity of a Business

question 181

Multiple Choice

Identify the account below that impacts the Equity of a business:

• A)Utilities Expense
• B)Accounts Payable
• C)Accounts Receivable
• D)Cash
• E)Unearned Revenue

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Definitions:

Sell

To sell means to exchange a product or service for money or other goods.

Serial Bonds

Bonds issued in a series, each one of which has a different maturity date and thus comes due at a different time.

Maturities

The term dates on which debts or investments are due to be paid or settled.

Bond Issue

The process by which a borrower, such as a company or government, raises funds by selling bonds to investors, with the promise to pay back with interest at future dates.