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How well do you know Assets, Liabilities & Equity? Try to classify these 5 accounts: 1. Is “Cash” an Asset, a Liability or an Equity account? 2. Is “Accounts Payable” an Asset, a Liability or an Equity account? 3. Is “Retained Earnings” an Asset, a Liability or an Equity account? 4. Is “Goodwill” an Asset, a Liability or an Equity account? 5. Is “Deferred Revenue” an Asset, a Liability or an Equity account? Let me know how you scored in the comments. #accounting #accountingstudent #accountingstu
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