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

question 141

Short Answer

Match the type of account (a - e) with the business transactions that follow.
-Received 6 months of rental payments from a tenant.
A)Prepaid expense
B)Accrued expense
C)Unearned revenue
D)Accrued revenue
E)None of these

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

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Definitions:

Coal Deposit

A geological formation containing a natural accumulation of coal, which can be mined for use as a fuel.

Tons Available

A measurement indicating the quantity of a commodity or material expressed in tons that is available for use or sale.

Normal Balance

The side of an account (debit or credit) on which increases to the account are recorded.

Financial Statement

A record that outlines the performance, financial position, and cash flows of a company, offering insight into its financial health.