Identify the Correct Classification for the Following Four Ledger Accounts

question 19

Multiple Choice

Identify the correct classification for the following four ledger accounts in the chart of accounts:

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