A Company's Chart of Accounts Includes,in Part,the Following Account Numbers

question 105

Multiple Choice

A company's chart of accounts includes,in part,the following account numbers and corresponding account titles:

-Which accounts would affect operating income?

• A)Account numbers 2,4,and 9
• B)Account numbers 3,5,7,and 9
• C)Account numbers 3,4,7,and 9
• D)Account numbers 3,4,7,8,and 9

Understand the basic accounting equation and how various transactions affect it.

Distinguish between assets, liabilities, and equity and their roles in the accounting equation.

Identify the effects of revenue, expenses, and withdrawals on a company's financial position.

Recognize the impact of transactions on accounts receivable, accounts payable, and cash flows.

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Definitions:

Marginal Costs

The rise in the overall expense incurred from the production of an extra unit of a good or service.

Potential Customers

Individuals or organizations that could become purchasers of a product or service, but have not yet done so.

Expected Profit

The forecasted amount of profit based on potential outcomes and their probabilities.

Price

The financial sum anticipated, needed, or handed over as payment for an item.