Which of the following statements is true regarding the, Ask an Expert

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Which of the following statements is true regarding the different types of general ledger accounts?

a) One type of business expense is an owner withdrawal of equity.

b) When a company receives money as payment for goods sold, it increases its accounts receivable.

c) An employee using a company credit card creates an account payable.

d) Building rent for the month of December that will be paid on December 15th is an example of an accrued liability.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9436300

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