UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Accounts Payable - Correct answers✔✔Current Liability
Accounts Receivable - Correct answers✔✔Current Asset
Accumulated Depreciation - Equipment - Correct answers✔✔PPE - Note to the Balance Sheet
Advertising - Correct answers✔✔Distribution Expense
Bad Debts - Correct answers✔✔Distribution Expense
Bank - Correct answers✔✔Current Asset
Buildings - Correct answers✔✔PPE - Note to the Balance Sheet
Capital - Correct answers✔✔Equity
Cash Sales - Correct answers✔✔Income
Cost of Goods Sold - Correct answers✔✔COGS