Identify the Statement Below That Is Correct

question 32

Multiple Choice

Identify the statement below that is correct.

• A)When a future expense is paid in advance,the payment is normally recorded in a liability account called Prepaid Expense.
• B)Promises of future payment by the customer are called accounts receivable.
• C)Increases and decreases in cash are always recorded in the common stock account.
• D)An account called Land is commonly used to record increases and decreases in both the land and buildings owned by a business.
• E)Accrued liabilities include accounts receivable.

---

Definitions:

Key Information

Essential or crucial data or facts that are important for decision-making, understanding a situation, or solving a problem.

Identify And Reply

The process of recognizing a message or request and providing a corresponding response.

Body Language

Involves the use of physical behavior, expressions, and mannerisms to communicate nonverbally, often reflecting the speaker’s feelings and attitudes.

Face-To-Face Communication

direct interaction between individuals that occurs in person, allowing for immediate feedback.