ACCT 25

"Accounts receivable" falls under which category?

• Expense

• Liability

• Revenue

• Asset

"Cash and cash equivalents" fall under which category?

• Asset

• Liability

• Stockholders' equity

• Revenue

"Net sales" fall under which category?

• Asset

• Liability

• Expense

• Revenue

"Taxes payable" are classified under which category?

• Expense

• Asset

• Liability

• Stockholders' equity

"Retained earnings" fall under which category?

• Stockholders' equity

• Liability

• Revenue

• Asset

"Cost of products sold" is classified under which category?

• Liability

• Asset

• Revenue

• Expense

"Selling, general, and administrative expenses" fall under which category?

• Asset

• Expense

• Liability

• Revenue

"Income taxes" fall under which category?

• Revenue

• Liability

• Asset

• Expense

"Accounts payable" is an example of which category?

• Asset

• Liability

• Expense

• Stockholders' equity

Under which category would you classify "Equipment"?

• Liability

• Expense

• Asset

• Revenue