Accounts Classification Flashcards
1
Q
Dividend distributed
A
Retained Earnings
2
Q
School Fees Received
A
Revenues
3
Q
Income Tax Payable
A
Current Liabilities
4
Q
Allowance for Doubtful Accounts
A
Current Assets
5
Q
Refundable Deposits
A
Non-Current Asset
6
Q
Financial Assumptions
A
Notes to Financial Statements
7
Q
Depreciation (Admin)
A
Operating Expense
8
Q
Direct Labor
A
Cost of Goods
9
Q
Advances to Officers/Employees
A
Current Asset
10
Q
Creditable Income Taxes (2 years)
A
Current Assets
11
Q
Long-term Liabilities — Current Portion
A
Current Liabilities
12
Q
Available-for-sale Securities (Inventory)
A
Current Assets
13
Q
Capital Surplus
A
Equity
14
Q
Held-to-Maturity Financial Assets (Cash on Bank)
A
Current Assets
15
Q
15-month loan availed from a local bank
A
Non-current Liabilities
