The Following Accounts: Equipment,accounts Payable,sales Revenue and Inventory Are Classified

question 54

Multiple Choice

The following accounts: equipment,accounts payable,sales revenue and inventory are classified as:

• A) equipment - asset; accounts payable - liability; sales revenue - income; inventory - asset.
• B) equipment - expense; accounts payable - asset; sales revenue - asset; inventory - liability.
• C) equipment - asset; accounts payable - asset; sales revenue - income; inventory - expense.
• D) equipment - asset; accounts payable - liability; sales revenue - income, inventory - expense.