The Balance Sheet Is Composed of the Following Types of Accounts

question 250

Multiple Choice

The balance sheet is composed of the following types of accounts:

• A)Revenue,expenses,and earnings.
• B)Operating expenses,cash flow,and capital expenditures.
• C)Capital,cost,and valuation.
• D)Assets,liabilities,and owners' equity.

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Definitions:

Simplest Form

An expression or fraction that has been simplified to the point that it cannot be made any simpler, often by removing common factors.

Add Fractions

The process of combining two fractions with a common denominator to form a single fraction.

Simplest Form

Refers to the state of an algebraic expression when it has been reduced to the most basic or simplified version without changing its value.

Reciprocal

The inverse of a number or expression; for a nonzero number \(x\), its reciprocal is \(1/x\).