PLEASE DO IT BY TPYE NOT PICS QUESTION 1 Select all of the accounts that have a

Question

PLEASE DO IT BY TPYE NOT PICS

QUESTION 1

Select all of the accounts that have a natural debit balance:

Revenue

Liability

Expense

Asset

Retained Earnings

Common Stock

Dividend

QUESTION 2

The five products of financial accounting and the result of the eighth step of the accounting process are:

Income Statement, Business Progress Statement, Balance Sheet, Statement of Cash Flows, Asset and Liability Statement

Income Statement, Notes to the Income Statement, Statement of Retained Earnings, Notes to the Retained Earnings Statement, Balance Sheet.

Income Statement, Statement of Retained Earnings, Balance Sheet, Statement of Cash Flows, Statement of Stockholders Equity

Income Statement, Statement of Retained Earnings, Balance Sheet, Statement of Cash Flows, Notes to the Financials

Revenue

Liability

Expense

Asset

Retained Earnings

Common Stock

Dividend

Explanation / Answer

Ans 1 Correct options Expense Asset Dividend The accounts which naturally has debit balances are expenses, current assets, non current assets and intangible assets ans 2 Option D Income Statement, Statement of Retained Earnings, Balance Sheet, Statement of Cash Flows, Notes to the Financials The products of financial accounting has an income statement and other comprehensiveincome 2) statement of changes in retained earnings 3) Balance sheet 4) Statement of cash flow 5) Notes to Financial statements If any doubt please comment. If satisfied please rate

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