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Management Sciences MCQs With Answers

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What type of account is ‘Accumulated Depreciation’ on the balance sheet?

ADirect Asset Account
BLiability Account
CContra-Asset Account
DOperating Expense Account
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When revenue is collected in advance before goods or services are delivered, it is initially recorded as:

AEarned Revenue
BUnearned Revenue (Liability)
CPrepaid Expense (Asset)
DAccounts Receivable
Submitted by: mcqstutor Team 0 comments