Which Pair of Accounts Has the Same Set of Rules

question 59

Multiple Choice

Which pair of accounts has the same set of rules for debit and credit entries?

• A)Common Stock and Accounts Payable
• B)Salary Expense and Retained Earnings
• C)Cash and Notes Payable
• D)Sales Revenue and Accounts Receivable

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Definitions:

Mass Transit

Public shared transportation systems, such as buses and trains, designed to move large numbers of people efficiently across urban and suburban areas.

Drilled Oil

Petroleum that has been extracted from the earth via drilling operations, a common method for obtaining crude oil.

Inferior Goods

Goods whose demand decreases when consumer income rises, opposite to normal goods, due to their lower quality.

Demand Rises

An increase in the quantity of a good or service that consumers are willing and able to purchase at a given price.