If Assets Are Numbered from 100-199, Which of the Following

question 39

Multiple Choice

If assets are numbered from 100-199, which of the following accounts would not be given a number in the 100 series?

• A)Prepaid Rent
• B)Supplies
• C)Accounts Receivable
• D)Accounts Payable

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Definitions:

Cumulative

An adjective describing something that increases or accumulates over time, often used in the context of dividends or data.

Dividends In Arrears

Unpaid dividends on preferred stock that have not yet been distributed to shareholders, usually accumulated from previous periods.

Preferred Stock

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock, often receiving dividends before common shareholders.

Treasury Stock

Shares that were issued and subsequently repurchased by the issuing company, reducing the amount of outstanding stock on the open market.