Which of the Following Would Start with a 2 in the Chart

question 26

Multiple Choice

Which of the following would start with a 2 in the chart of accounts?

• A)Income Taxes Payable and Salaries Payable
• B)Common Stock and Dividends
• C)Cash and Accounts Receivable
• D)Sales and Service Revenue

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Definitions:

Banking Day

A business day during which financial institutions are open for business with the public, typically excluding weekends and public holidays.

Calendar Days

The consecutive days on a calendar, including all weekdays and weekend days.

Without Recourse

A term indicating that the seller of an asset is not liable to the buyer for any defects or non-performance.

Indorses

A party who transfers their rights in a negotiable instrument to another party by signing the back of the instrument.