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MCQs > Finance & Management > Balance Sheet MCQs > General MCQs

General MCQ for Balance Sheet

1. Client Jay pays ABC Co. $1,000 in December for ABC to perform services for Jay in 45 days. ABC uses the accrual basis of accounting. In December ABC will debit Cash for $1,000. What will be the other account involved in the December accounting entry prepared by ABC (and what type of account is it)?

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Balance Sheet Subjects
Basic Balance Sheet MCQs
More Resources
Balance Sheet MCQ
Balance Sheet Skill Assessment
Balance Sheet PDF
Related MCQs
Blockchain
Bookkeeping
Budget and Planning
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