Identify the Correct Classification for the Following Four Ledger Accounts

question 13

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.

---

Definitions:

Diverse Ways

Varied or different methods, approaches, or manners in which something can be done or thought about.

Society

A group of individuals involved in persistent social interaction, or a large social grouping sharing the same geographical or social territory, typically subject to the same political authority and dominant cultural expectations.

Martin Luther King, Jr.

An iconic leader of the American civil rights movement, known for his advocacy for nonviolent resistance to achieve racial equality and his famous "I Have a Dream" speech.

Abraham Lincoln

The 16th President of the United States, known for leading the country during the Civil War and emancipating slaves with the Emancipation Proclamation.