Balance sheet

Another name for the balance sheet is

• Statement Of Operations

• Statement Of Financial Position

The balance sheet heading will specify a

• Period Of Time

• Point In Time

Which of the following is a category or element of the balance sheet?

• Expenses

• Gains

• Liabilities

• Losses

Which of the following is an asset account?

• Accounts Payable

• Prepaid Insurance

• Unearned Revenue

Which of the following is a contra account?

• Accumulated Depreciation

• Capital

What is the normal balance for an asset account?

• debit

• credit

What is the normal balance for liability accounts?

• debit

• credit

What is the normal balance for stockholders' equity and owner's equity accounts?

• debit

• credit

What is the normal balance for contra asset accounts?

• debit

• credit

Which of the following would not be a current asset?

• Accounts Receivable

• Land

• Prepaid Insurance

• Supplies