Identify the Correct Classification for the Following Four Ledger Accounts

question 30

Multiple Choice

Identify the correct classification for the following four ledger accounts in the chart of accounts:

• 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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Definitions:

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A condition where the levels of electrolytes in the body are either too high or too low, affecting various bodily functions.

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A non-cancerous tumor that develops on the main nerve leading from the inner ear to the brain, affecting hearing and balance.

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The emission and propagation of energy in the form of waves or particles through space or through a material medium.