Identify the Correct Classification for the Following 5 Ledger Accounts

question 30

Multiple Choice

Identify the correct classification for the following 5 ledger accounts in the chart of accounts:
1.prepayments
2.municipal rates
3.depreciation
4.accumulated depreciation
5.accrued expenses.

• A)1 asset, 2 expense, 3 expense, 4 asset, 5 expense
• B)1 asset, 2 expense, 3 asset, 4 expense, 5 liability
• C)1 asset, 2 expense, 3 expense, 4 asset, 5 liability
• D)1 expense, 2 expense, 3 expense, 4 expense, 5 expense.

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Definitions:

Serotonin

A neurotransmitter in the brain associated with mood regulation, sleep, and appetite control.

Classical Conditioning

A learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus, leading to learned responses.

Aplysia

A genus of sea slugs known for their utility in neurobiological studies, especially in understanding the fundamentals of learning and memory.

Physical Basis

The underlying material or biological foundation for a phenomenon or condition.