Author Question: The classification and normal balance of the accounts payable account is a. an asset with a credit ... (Read 54 times)

asmith134 · **on:** Jul 5, 2018

The classification and normal balance of the accounts payable account is
a. an asset with a credit balance
b. a liability with a credit balance
c. owner's equity with a credit balance
d. revenue with a credit balance

Question 2

A government is required to have a single audit for any year in which it expends federal awards of

A. At least 100,000.
B. At least 300,000.
C. At least 500,000
D. At least 25 of its total expenditures.