Accounting

Which of the following is classified as an Asset?

• A. Bonds Payable
• B. Prepaid Insurance
• C. Dividends Payable
• D. Unearned Rent Revenue

Interest Payable belongs to which account category?

• A. Asset
• B. Owner’s Equity
• C. Liability
• D. Revenue

“Owner’s Capital” is part of:

• A. Revenue
• B. Owner’s Equity
• C. Liability
• D. Expense

Sales Revenue is considered:

• A. Asset
• B. Liability
• C. Revenue
• D. Owner’s Equity

Which account is an expense?

• A. Prepaid Rent
• B. Utilities Expense
• C. Unearned Revenue
• D. Accumulated Depreciation

What type of account is “Buildings”?

• A. Liability
• B. Revenue
• C. Expense
• D. Asset

Dividends are categorized under:

• A. Revenues
• B. Liabilities
• C. Owner’s Equity
• D. Assets

Sales Discounts fall under which category?

• A. Revenue
• B. Asset
• C. Expense
• D. Contra Revenue

What is the nature of “Accounts Payable”?

• A. Owner’s Equity
• B. Liability
• C. Asset
• D. Expense

“Accumulated Depreciation—Equipment” is:

• A. Asset
• B. Liability
• C. Contra Asset
• D. Expense