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Name: Which of the following accounts is an asset? Select one:O a. Accounts
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Description: Which of the following accounts is an asset? Select one:O a. Accounts payableO b. Salary expenseO c. Service revenueO d. Prepaid expenses

Business

Accounting

Which of the following accounts is an asset? Select one: O a. Accounts payable O b. Salary expense O c. Service revenue O d. Prepaid expenses

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 2MC: Which of the following accounts is considered a permanent or real account? A. Interest Revenue B....

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

Which of the following accounts is an asset?
Select one:

O a. Accounts payable

O b. Salary expense

O c. Service revenue

O d. Prepaid expenses

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