Question

Question 19 Subdivisions of assets, liabilities, and shareholders'equity are called revenues. accounts contributed capital journals. Question 20 2 pts The biggest distinction between accruals and deferrals is one emphasizes conservatism while the other promotes aggressive accounting positions. how long a company must wait until the collection of cash occurs. with accruals, no record of the activity has been made prior to the adjustment process, and with deferrals, the activity has already been recorded in the accounting records, but the proper amount of revenue or expense has not been recognized. adjustments are necessary for accruals, whereas, adjustments are not necessary for deferrals.

Answer 1

Question 19:

The correct answer is "Accounts".

Supporting explanations:

When a transaction occurs, it is recorded in the books of accounts through journal entries and each journal entry is posted to respective ledger account. Ledger accounts are prepared for all assets accounts, liabilities accounts and stockholders accounts. After preparing these assets, liabilities and equity accounts, balance sheet is prepared by taking the balance from each such individual accounts.

Therefore, subdivision for all assets, liabilities and equity accounts is the Account.