What Entries Should Be Made in the Extended Trial Balance

question 15

Multiple Choice

What entries should be made in the extended trial balance in respect of a prepayment of rates?

• A) Debit the income statement and credit the asset account
• B) Debit the income statement and credit the current liabilities
• C) Credit the income statement and debit the asset account
• D) Credit the income statement and debit the current liabilities

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Definitions:

Genomics

The study of genomes, the complete set of DNA within an organism, focusing on the structure, function, evolution, and mapping of genomes.

Biochemical Code

The complex sequences of biochemical signals and processes that govern the functioning of living organisms.

Eye Color

The color of the iris, determined by genetics, which can range from blue, green, brown, to variations of these colors.

Genes

Units of heredity made up of DNA that influence the development of an organism's traits and are passed from parents to offspring.