TEST 2026 ADVANCED QUESTIONS AND
SOLUTIONS FULLY SOLVED A+
●● Liabilities. Answer: 200-299
●● Owner's Equity. Answer: 300-399
●● Revenue. Answer: 400-499
●● Expenses. Answer: 500-599
●● Assets are:. Answer: Cash, Accounts Receivables, Furniture/Office
Equipment, Buildings, Inventory, Automobiles, Machinery
●● Liabilities are:. Answer: Accounts Payable, Mortgage Payable, Sales
Tax Payable
●● Capitals are:. Answer: Monies invested by owner, Monies withdrawn
by owner
●● Revenue are:. Answer: Sales/Income/Fees