Identify the Correct Classification for the Following Four Ledger Accounts

question 15

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

Analyze the impacts of educational practices such as tracking and testing on student outcomes.

Understand the historical context and impact of Bill 101 on Québec's citizens.

Comprehend how education can reproduce existing social stratifications.

Analyze the relationship between Indigenous peoples in Canada and the educational system.

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Definitions:

Ownership Interest

Ownership interest refers to the rights and claims an individual or entity has on a property or business, often represented in terms of shares or equity.

Fiscal-Year End

The completion of a one-year, or 12-month, accounting period used by governments and businesses for financial reporting and budgeting.

Automatic Extension

An extension of time granted by the IRS for filing tax returns without needing to file a request form.

C Corporation

A legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.