Select the Account Types for These Items

question 30

Multiple Choice

Select the account types for these items:
Prepaid insurance
Mortgage
GST Collected
Light and power

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

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Definitions:

Red Flag Words

Words that bring an immediate emotional response (usually negative) from the listener, generally because of strong beliefs on the subject.

Implied Meanings

The underlying or suggested meaning conveyed by a message, which might not be explicitly stated but understood through context or nonverbal cues.

Information Overload

The type of listening that happens when a listener is overwhelmed with incoming information and has to decide which information will be processed and remembered; this is a common cause of poor listening skills.

Selective Listening

The type of listening that happens when a listener deliberately chooses what he or she wants to pay attention to.