1. The business receives billing for electricity used during the period. Before the bill is paid, it is initially recorded in this account. A. Utilities payable B. Interest payable C. Accounts Payable D. Salaries payable 2. The following are decisions made by external users except A. whether to hold or sell investments in stocks. B. whether or not to extend a loan to the business. C. whether to sell goods on credit to the business D. whether to obtain additional capital from outside creditors or to generate it internally.
1. The business receives billing for electricity used during the period. Before the bill is paid, it is initially recorded in this account. A. Utilities payable B. Interest payable C. Accounts Payable D. Salaries payable 2. The following are decisions made by external users except A. whether to hold or sell investments in stocks. B. whether or not to extend a loan to the business. C. whether to sell goods on credit to the business D. whether to obtain additional capital from outside creditors or to generate it internally.
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 9EA: Identify whether each of the following accounts would be listed in the companys Post-Closing Trial...
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1. The business receives billing for electricity used during the period. Before the bill is paid, it is initially recorded in this account.
A. Utilities payable
B. Interest payable
C. Accounts Payable
D. Salaries payable
2. The following are decisions made by external users except
A. whether to hold or sell investments in stocks.
B. whether or not to extend a loan to the business.
C. whether to sell goods on credit to the business
D. whether to obtain additional capital from outside creditors or to generate it internally.
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