Use the Following Information to Answer the Following Questions

question 49

Multiple Choice

Use the following information to answer the following Questions

-Refer to the figure above. Line A is the:

• A) total revenue line.
• B) fixed cost line.
• C) variable cost line.
• D) total cost line.
• E) profit line.

---

Definitions:

Chart of Accounts

The Chart of Accounts is a systematic list of all accounts used by an organization, essential for classifying and organizing financial transactions within the general ledger.

Expense Account

An account where costs associated with the operations of a business, such as rent, utilities, and salaries, are recorded.

Asset Account

An account that represents a tangible or intangible item of value owned by a company, such as cash, inventory, or equipment.

Revenue Account

An account that records the income earned from normal business operations, such as sales of goods or services.