For Each of the Following Accounts Indicate (A) the Type

question 124

Essay

For each of the following accounts indicate (a) the type of account (Asset, Liability, Shareholders' Equity, Revenue, Expense), (b) the debit and credit effects, and (c) the normal account balance. $$\begin{array} { | l | l | } \hline \text { Example } & \\ \hline \text { 0. Cash } & \text { a. Asset account } \\\hline & \text { b. Debit increases, credit decreases } \\\hline & \text { c. Normal balance - debit } \\\hline\end{array}$$
Accounts:
1. Accounts Payable
2. Accounts Receivable
3. Common shares
4. Dividends
5. Service Revenue
6. Insurance Expense
7. Notes Payable
8. Equipment

---

Definitions:

Distribution

A statistical term that describes the way values are spread out or distributed across a dataset.

Two Modes

A concept or framework that suggests there are two distinct ways or methods of operation or behavior.

Measure of Variability

is a statistical concept that quantifies the spread or dispersion of a set of data points.

Lowest Score

The minimum value or achievement recorded in a set of data or test results.