Which of the Following Statements Is Correct

question 178

Multiple Choice

Which of the following statements is correct?

• A)When a future expense is paid in advance,the payment is normally recorded in a liability account called Prepaid Expense.
• B)Promises of future payment are called accounts payable.
• C)Increases and decreases in cash are always recorded in the retained earnings account.
• D)An account called Land is commonly used to record increases and decreases in both the land and buildings owned by a business.
• E)Liabilities include accounts receivable.

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Definitions:

Harmful Allele

A version of a gene that can cause negative effects on the fitness or health of an organism, potentially leading to diseases or disorders.

Rare Allele

An allele that appears infrequently in a population, sometimes associated with specific genetic traits or conditions.

Gene Flow

Gene flow is the transfer of genetic variation from one population to another, which can influence the genetic structure of the receiving population.

Breeding Individuals

Refers to the selection of specific animals or plants for reproduction, aimed at enhancing desirable traits.