1. Identify the account below that is classified as a liability account:
Cash
Accounts Payable
Salaries Expense
Common Stock
Equipment
2. Select the account below that normally has a credit balance.
Cash.
Office Equipment.
Wages Payable.
Dividends.
Sales Salaries Expense.
3. Distributions of cash or other resources by a business to its stockholders are called:
Dividends.
Expenses.
Assets.
Retained earnings.
Net Income.