Use the Following Code to Classify the Accounts Listed Below

question 163

Short Answer

Use the following code to classify the accounts listed below by the appropriate category:
a.Revenue
b.Expense
c.Neither a revenue nor an expense
______ 1.Retained earnings
______ 2.Prepaid insurance
______ 3.Interest expense
______ 4.Accumulated depreciation
______ 5.Salaries expense
______ 6.Sales
______ 7.Unearned revenue

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Definitions:

Bill Of Rights

The first ten amendments to the United States Constitution, guaranteeing certain rights and freedoms to American citizens.

States

Politically organized territories with defined geographic boundaries, governed by a set of laws under a sovereign government.

First Amendment

An amendment to the U.S. Constitution that guarantees freedoms concerning religion, expression, assembly, and the right to petition the government.

Freedom Of Speech

A fundamental right guaranteed by the First Amendment to the U.S. Constitution, allowing individuals the liberty to express ideas and opinions without government restraint.