All of the following are asset accounts except

Click to watch the Tell Me More Learning Objective 1 video and then answer the questions below. 1. All of the following are asset accounts except a. Cash b. Outstanding Salaries c. Building d. Plant and Machinery 2. Which of the following accounts is a liability account? a. Notes Payable b. Accounts Payable c. Wages Payable d. All of these choices are correct. 3. Increases in assets and owner’s equity as a result of selling services or products to customers is called revenue.

Click to watch the Tell Me More Learning Objective 1 video and then answer the questions below. 1. All of the following are asset accounts except a. Cash b. Outstanding Salaries c. Building d. Plant and Machinery 2. Which of the following accounts is a liability account? a. Notes Payable b. Accounts Payable c. Wages Payable d. All of these choices are correct. 3. Increases in assets and owner’s equity as a result of selling services or products to customers is called revenue.

Answer

1

All the following account are assets account except:

Answer:

Outstanding salary

Explanation

Outstanding salary is liability and not assets

_____________________

2

Which of the following are liability account

Answer: All choice are correct

Explanation

Notes payable , accounts payable and wages payable all are
liability so the last option is correct

___________________________

3

Increase in assets and owner’s equity as a result of selling
services or product to customers is called revenue

Answer: True