Which of the following is not a liability? A) incometax payable. B) accounts payable. C) unearned revenue.
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Question:
Which of the following is not a liability?
A) incometax payable.
B) accounts payable.
C) unearned revenue.
D) Professional fees.
A classified balance sheet is used to;
A) separate the components of assets andliabilities.
B) Has revenues and expensesincluded.
C) receive a loan.
D) None of the above.
In the first month of operations, the total of the debit entriesin accounts payable amounted to $2,000 and the total of the creditentries in accounts payable account amounted to $6,000. The accounthas a
A) $4,000credit balance.
B) $6,000credit balance.
C) $4,000debit balance.
D) None ofthe above.
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