9. Which of the following is not true as it relates to account category, account

Question

9.

Which of the following is not true as it relates to account category, account class, financial statement, temporary or permanent, normal balance, closed/not closed and adjusted/not adjusted?

A) All of the above are true

B) Prepaid Insurance - - asset, current, balance sheet, permanent, debit, not closed and not adjusted

C) Accounts Payable - - liability, current, balance sheet, permanent, credit, not closed, adjusted

D) Accumulated Depreciation - - asset, contra asset, balance sheet, permanent, credit, not closed and adjusted

E) Common Stock - - stockholders

9.

Which of the following is not true as it relates to account category, account class, financial statement, temporary or permanent, normal balance, closed/not closed and adjusted/not adjusted?

A) All of the above are true

B) Prepaid Insurance - - asset, current, balance sheet, permanent, debit, not closed and not adjusted

C) Accounts Payable - - liability, current, balance sheet, permanent, credit, not closed, adjusted

D) Accumulated Depreciation - - asset, contra asset, balance sheet, permanent, credit, not closed and adjusted

E) Common Stock - - stockholders

Explanation / Answer

9 A 10 C 11 A 12 B 13 D 14 B

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