Identify the Correct Classification for the Following Four Ledger Accounts

question 37

Multiple Choice

Identify the correct classification for the following four ledger accounts:

• A) 1 expense, 2 expense, 3 asset, 4 expense.
• B) 1 expense, 2 asset, 3 revenue, 4 liability.
• C) 1 asset, 2 asset, 3 revenue, 4 liability.
• D) 1 asset, 2 asset, 3 asset, 4 liability.

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Definitions:

Beck

Refers to Aaron T. Beck, an influential psychiatrist known for developing cognitive therapy (now known as cognitive-behavioral therapy, CBT).

Bi-polar Disorder

A mental health condition characterized by extreme mood swings that include emotional highs (mania or hypomania) and lows (depression).

Core/Basic Belief

A fundamental or underlying principle or idea that is deeply believed or ingrained in a person's or society's mindset.

Mindfulness-based Approaches

Therapeutic methods that incorporate mindfulness practices to improve mental health, increase awareness, and reduce symptoms of various conditions.