Which of the Following Accounts Would Most Likely Be Found

question 52

Multiple Choice

Which of the following accounts would most likely be found on both a trial balance and an adjusted trial balance?

• A) Utilities Expense
• B) Insurance Expense
• C) Supplies Expense
• D) Depreciation Expense-Equipment

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Definitions:

Inventory Preparation Costs

Expenses associated with getting inventory ready for sale, including sorting, repackaging, or labelling.

Inventory-related Selling Costs

These are expenses directly tied to the selling of inventory, including packaging, shipping, and handling costs.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting cost of goods sold.

Stockholders' Equity

Stockholders' equity, or shareholders' equity, represents the residual interest in the assets of a corporation after deducting liabilities, essentially the net worth attributed to shareholders.