Distributions of cash or other resources by a business

Assignment Help Financial Accounting

Reference no: EM131292028

1. Identify the account below that is classified as a liability account:

Cash

Accounts Payable

Salaries Expense

Common Stock

Equipment

2. Select the account below that normally has a credit balance.

Cash.

Office Equipment.

Wages Payable.

Dividends.

Sales Salaries Expense.

3. Distributions of cash or other resources by a business to its stockholders are called:

Dividends.

Expenses.

Assets.

Retained earnings.

Net Income.

Reference no: EM131292028

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