For Each Transaction Provided, Choose the Appropriate Account from the List

question 139

Multiple Choice

For each transaction provided, choose the appropriate account from the list that would receive a debit entry as a result of the transaction. (Choices may be used more than once.)
-paying utilities

• A)Cash
• B)Accounts Receivable
• C)Supplies
• D)Prepaid Insurance
• E)Land
• F)Equipment
• G)Accounts Payable
• H)Unearned Revenues
• I)Notes Payable
• J)Common Shares
• K)Retained Earnings
• L)Service Revenue
• M)Salary Expense
• N)Insurance Expense
• O)Utilities Expense
• P)Dividends

---

Definitions:

Net Realisable Value

The estimated selling price of goods minus the costs of their completion and sale.

Physical Units Method

A costing method used to allocate costs in processes where goods are indistinguishable and it counts units as they are produced.

Joint Production Costs

Costs incurred during the process of producing two or more products simultaneously from the same inputs or process, which are not easily separated.

Economic Characteristics

Traits that define the nature of an economy, including factors like market structure, growth rate, and resource distribution.