All of the Following Accounts Are Increased with a Debit

question 92

Multiple Choice

All of the following accounts are increased with a debit except:

• A) Unearned Revenues
• B) Land
• C) Accounts Receivable
• D) Cash

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Definitions:

Normal Business Activities

The everyday tasks and operations conducted by a company to generate profits and maintain viability, such as sales, production, and administration.

Statement Of Financial Position

Another term for the balance sheet, showing a company's assets, liabilities, and shareholders' equity at a specific point in time.

Order Of Decreasing Liquidity

A ranking of assets on a balance sheet based on their ease of conversion to cash without loss of value.