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Classify the Following Items According to the Financial Statement on Which

question 35

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Classify the following items according to the financial statement on which each belongs, either the income statement IS or the balance sheet BS. Also indicate whether each is a revenue R, expense E, asset A, liability L, or owners' equity OE item. Classify the following items according to the financial statement on which each belongs, either the income statement IS or the balance sheet BS. Also indicate whether each is a revenue R, expense E, asset A, liability L, or owners' equity OE item.


Definitions:

Sandstone

A medium-grained, clastic sedimentary rock composed mostly of grains of sand, along with other material.

Weathering

The process by which rocks, minerals, and soils are broken down by the effects of weather, water, and biological organisms.

Geologic Information

Data related to the earth's physical structure and substance, its history, and the processes that act on it.

Topographic

Pertaining to the detailed and accurate representation of natural and artificial physical features of an area on a map.

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