For Each of the Following, Identify in Column 1 the Category

question 49

Essay

For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, and in column 3 the financial statement on which the account balance is reported.
- $$\begin{array} { | l | l | l | l | } \hline & \text { Column } 1 & \text { Column } 2 & \text { Column } 3 \\\hline \text { Shop Supplies } & & & \\\hline\end{array}$$

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Definitions:

Negotiability

Refers to the feature of some financial instruments or documents which allows them to be transferred or assigned from one party to another in a way that the recipient obtains a good title to the instrument.

Code

A system of principles or rules, often in written form, which is established by a particular country, organization, or community for governance.

Ambiguity

The presence of uncertainty or vagueness in language, making interpretation difficult in legal documents or situations.

Written Amount

The numerical representation of value or money in written form within a document.