Match Each Account Name to the Financial Statement Section (A-I)

question 81

Multiple Choice

Match each account name to the financial statement section (a-i) in which it would appear.
-Gain on Sale of Equipment

• A)Current assets
• B)Fixed assets
• C)Intangible assets
• D)Current liability
• E)Long-term liability
• F)Owner's equity
• G)Revenues
• H)Operating expenses
• I)Other revenue and expense

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Definitions:

Old Charters

Documents representing the earliest forms of incorporation for colonies, companies, universities, and cities, outlining their rights, privileges, and organizational structure.

State Governments

The governing bodies of each of the 50 states in the United States, responsible for local legislation and administration.

Liberia

A country in West Africa founded in the 19th century by freed slaves from the United States, with its capital at Monrovia.

American Colonization Society

An organization founded in 1816 to assist in the migration of free African Americans to Africa, eventually leading to the creation of Liberia.