All of the Following Are Nominal Quantities EXCEPT the

question 19

Multiple Choice

All of the following are nominal quantities EXCEPT the

• A) price of a new car.
• B) wages paid to workers in a restaurant.
• C) cost of purchasing a new computer.
• D) number of new houses built in one month.
• E) salary offered to a new college graduatE.

---

Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to update account balances to reflect accurate financial activity and balances.

Prepaid Items

Expenses paid in advance for goods or services to be received or used in the future, such as insurance or rent.

Accrued Expenses

Costs that have been incurred but not yet paid or documented in the accounting records during a specific accounting period.

Liability Accounts

Financial accounting records that represent the obligations or debts a company owes to others.