1. The business receives billing for electricity used during the period. Before the bill is paid, it is initially recorded in this account. A. Utilities payable B. Interest payable C. Accounts Payable D. Salaries payable 2. The following are decisions made by external users except A. whether to hold or sell investments in stocks. B. whether or not to extend a loan to the business. C. whether to sell goods on credit to the business D. whether to obtain additional capital from outside creditors or to generate it internally.

1. The business receives billing for electricity used during the period. Before the bill is paid, it is initially recorded in this account. A. Utilities payable B. Interest payable C. Accounts Payable D. Salaries payable 2. The following are decisions made by external users except A. whether to hold or sell investments in stocks. B. whether or not to extend a loan to the business. C. whether to sell goods on credit to the business D. whether to obtain additional capital from outside creditors or to generate it internally.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 1EA: Identify whether each of the following transactions, which are related to revenue recognition, are...

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