Select the Account Types for These Items $\bullet$ Rent Received in Advance

question 57

Multiple Choice

Select the account types for these items:
$\bullet$ Rent received in advance
$\bullet$ Mortgage
$\bullet$ Prepaid expenses
$\bullet$ Rates

• A) Expense, liability, liability, equity
• B) Asset, equity, asset, expense
• C) Liability, liability, asset, expense
• D) Expense, liability, asset, liability

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Definitions:

Debt Acquisition

The process of obtaining funds or capital through borrowing, which incurs debt.

Secretarial Skills

Refers to the abilities and competencies required for proficient performance in secretarial and administrative tasks, including typing, organization, communication, and office management.

Seamstresses

Women who sew and make clothing as a profession or hobby, often employing detailed craftsmanship in garment making.