An Owner Invests $20,000 in Her New Business by Depositing

question 97

Multiple Choice

An owner invests $20,000 in her new business by depositing the cash in the business's checking account.Which account is credited?

• A) Accounts receivable
• B) Cash
• C) Capital
• D) Accounts payable

Master the categorization of accounts and understand their normal balances, reporting in financial statements, and nature (permanent/temporary).

Understand different categories of accounts in accounting.

Identify the normal balance for various accounts.

Recognize which financial statement reports specific account balances.

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