Question: Question 2 - 10 marks 0.5 Mark for each correct account type and 0.5 mark for each correct financial statement Classify each account type (asset,

Question 2 - 10 marks 0.5 Mark for each correct account type and 0.5 mark for each correct financial statement Classify each account type (asset, liability, equity, revenue or expense), and identify which financial statement it would be reported on: Account Account Type Financial Statement 1. Cost of Goods Sold 2. Inventory 3. Retained Earnings 4. Accounts Payable 5. Land 6. Dividends 7. Service Revenue 8. Prepaid Expense 9. Long Term Debt 10. Common Shares

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