Question 1 Classify the following items as: A: Assets, L: Liabilities, C: Capital, Ex: Expenses, or R: Revenue 1. Buildings Creditors / Account payables 3. Bank overdraft 4. Wages 5. Premises 6. Fixtures and fittings 7. Telephone 8. Insurance 9. Debtors / Accounts receivables 10. Plant & equipment 11. Stock 12. Audit fees 13. Telephone bill due/telephone payable 14. Office stationery 15. Rent 16. Rent received 17. Interest receivable 18. Rent payable 19. Sales 20. Machinery 21. Bank 22. Motor vehicles 23. Salaries owing 24. Salaries 25. Expenses owing 26. Advertising 27. Cash 28. Turnover 29. Capital introduced 30. Investments 31. Loan interest expense 32. Investment interest 33. Mortgage interest 34. Commission received 35. Commission paid 36. Commission receivable 37. Commission payable 38. Taxation for the period