Match the Type of Account (A Through E) with the Business

question 112

Multiple Choice

Match the type of account (a through e) with the business transactions that follow.
-Annual property taxes that are paid at the end of the year.

• A)Prepaid expense
• B)Accrued expense
• C)Unearned revenue
• D)Accrued revenue
• E)None of these choices

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Definitions:

Information Processing

The series of actions or steps taken to acquire, manipulate, store, and disseminate information.

S Corporations

A form of corporation in the United States that meets specific Internal Revenue Code requirements and passes income directly to shareholders to avoid double taxation.

Corporate Income Tax

A direct tax imposed by a jurisdiction on the income or profit of corporations.

Investment

The operation of deploying resources, often financial, with the intention of earning returns.