Identify the Correct Classification for the Following 4 Ledger Accounts

question 2

Multiple Choice

Identify the correct classification for the following 4 ledger accounts in the chart of accounts:
1.prepaid insurance
2.accrued wages
3.Depreciation
4.cost of goods sold

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

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False or misleading statements made to manipulate or deceive others, often found in advertising or misinformation.

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