Compare the List of Accounts Below and Choose the List

question 212

Multiple Choice

Compare the list of accounts below and choose the list that contains only accounts that would be classified as asset accounts on the Chart of Accounts.

• A)Accounts Payable; Cash; Supplies.
• B)Unearned Revenue; Accounts Payable; Dividends.
• C)Building; Prepaid Insurance; Supplies Expense.
• D)Cash; Prepaid Insurance; Equipment.
• E)Notes Payable; Cash; Dividends.

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Definitions:

Managed Float System

An exchange rate system in which a country's currency value is allowed to fluctuate in response to foreign exchange market mechanisms, with occasional intervention by the country's monetary authorities to stabilize the currency's value.

Exchange Rates

The value of one currency expressed in terms of another, determined by the foreign exchange market.

Production of X

The process of creating, manufacturing, or generating a specific product or service, denoted here as X.

Production of Y

Refers to the output or creation of a specific good or service denoted as "Y" within an economy or manufacturing process.