1. A sale on account would be recorded by: debiting revenue. crediting assets. crediting liabilities. debiting assets. 2. The adjusting entry required to record accrued expenses includes: a credit to...

1. A sale on account would be recorded by:

debiting revenue.

crediting assets.

crediting liabilities.

debiting assets.

2. The adjusting entry required to record accrued expenses includes:

a credit to cash.

a debit to an asset.

a credit to an asset.

a credit to liability

3.Permanent accounts would not include:

cost of goods sold.

inventory.

current liabilities.

accumulated depreciation.

4. Notes payable:

is a current liability account.

usually has a debit balance.

is a non-current liability account.

cannot determine its classification without additional information.

5. Which of the following is not a financing ratio?

Time interest earned ratio.

The debt to equity ratio.

The current ratio.

All of the above are financing ratios.