PracticeQuiz content is free on an ad-supported model.

Unfortunately, we can't support ad blocker usage because of the impact on our servers. If you'd like to continue, please disable your ad blocker and reload page.

Reload page

CLEP Accounting

Category - Accounting

Start a Study Session Sign up for Question of the Day

Which of the following appears as a category in the balance sheet?

Expenses
Gains
Liabilities
Net profit
Cost of goods sold

Explanation

Answer - C - Liabilities appear as a category in the balance sheet.

Key Takeaway: The three basic elements of a balance sheet are: assets, liabilities, and owner’s equity.

Was this helpful? Upvote!

Start a Study Session Sign up for Question of the Day

Most popular on PracticeQuiz

158 votes

An 8-year-old boy named Albert has a 10-year-old brother named Benny. Benny joins the service at 20 leaving Albert feeling bitter that he no longer has a brother to look up to. After 7 years, Albert is finally ready to make up with Benny who has been out of the service for 5 years. How old is Albert now? GED Exam Prep: Math
121 votes

The lymphatic system contains four organs: Medical Coding Exam Prep
80 votes

Using motivation from ‘within’ is called ______________. CPCE Exam Prep
75 votes

“A set of specialized organizational capabilities for providing value to customers in the form of services” is the official definition of: IT Service Management Foundation Practice Test
73 votes

Which are the most serious adverse effects associated with Lithium? MACE Medication Assistant Exam Prep

CLEP Accounting

Top questions

Related questions

Most popular on PracticeQuiz

Ad-Blocker not supported

CLEP Accounting

Top questions

Related questions

Most popular on PracticeQuiz