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Chapter 2

CACC100 Porter Chapter 2 - Student Copy.ppt


Department
Accounting
Course Code
ACC 100
Professor
Louis Pike
Chapter
2

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2-1
ACC100
Introductory Financial Accounting
Chapter 1 REVIEW

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2-2
The right to receive money in the future is called
a(n):
A. Account payable
B. Account receivable
C. Unearned revenue
D. None of the above.

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2-3
Cost of goods sold is a(n):
A. Asset
B. Liability
C. Revenue
D. Expense
E. None of the above.
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