Accounting Classification Quiz

Where would you classify "Cash in Hand"?

• Assets

• Long-term Assets

• Short-term Assets

• Liabilities

How would you categorize "Buildings and Land"?

• Assets

• Long-term Assets

• Short-term Assets

• Expenses

Where does "Accounts Payable" belong to?

• Assets

• Long-term Assets

• Short-term Assets

• Liabilities

"Salaries Expense" falls under which category?

• Revenues

• Expenses

• Contra-Expenses

• Assets

Where would you classify "Inventory"?

• Long-term Assets

• Short-term Assets

• Liabilities

• Expenses

How would you categorize "Investment Income"?

• Assets

• Long-term Assets

• Short-term Assets

• Revenues

"Interest Income" belongs to which category?

• Assets

• Revenues

• Contra-Expenses

• Expenses

Where does "Loans Payable" fit in the classification?

• Assets

• Liabilities

• Revenues

• Expenses

How would you classify "Office Supplies"?

• Revenues

• Expenses

• Contra-Expenses

• Liabilities

Where would you categorize "Goodwill"?

• Assets

• Liabilities

• Revenues

• Expenses