The Following Lettered Items Represent a Classification Scheme for a Balance

question 145

Essay

The following lettered items represent a classification scheme for a balance sheet, and the numbered items represent accounts found on balance sheets. In the blank next to each account, write the letter indicating to which category it belongs.
A. Current assets E. Current liabilities
B. Long-term investments F. Long-term liabilities
C. Property, plant, and equipment G. Owner's equity
D. Intangible assets H. Not on the balance sheet
_____ 1. Accumulated Depreciation _____ 6. Inventory
_____ 2. Jones, Capital _____ 7. Patents
_____ 3. Interest Expense _____ 8. Prepaid Rent
_____ 4. Salary Payable _____ 9. Mortgage Payable
_____ 5. Jones, Drawing _____ 10. Land Held for Investment

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Definitions:

Less Aggressive

Characterizing a more cautious or restrained approach or behavior, often in the context of competitive actions or strategies.

More Easygoing

Describes an approach or attitude that is relaxed and not overly concerned about strict rules or the traditional way of doing things.

Dysfunctional Behavior

Refers to any behavior at work that is counterproductive. These behaviors may include theft and sabotage, as well as sexual and racial harassment.

Financial Costs

The total amount of money that is spent by a business or organization on activities including operations, projects, and investments.