Match the account name to the appropriate account type. Account Name Account Type in QBO
1. Accounts Receivable Current assets
2. Note Payable (due in 2025) Long term Liabilities
3. Cash Current Asset
4. Dividends Equity Correct Mark 1.00 out of 1.00
5. Consulting Fee Revenue

1. Accounts Receivable ⇒ Current assets

Accounts receivable are a current asset account because they represent money owed to the business that will be paid within one period.

2. Note Payable (due in 2025) ⇒ Long term Liabilities

Payables are liabilities and if those liabilities exceed a period then they are termed long term liabilities like the Note payable above.

3. Cash ⇒ Current Asset

Cash is also a current asset because it will most likely be spent within a period and it is the most liquid current asset there is.

4. Dividends ⇒ Equity

Dividends are considered equity because they are part of the profits being shared to shareholders who are considered the Equity providers of the firm.

5. Consulting Fee ⇒ Revenue

Consulting fee is a service revenue because it represents money paid to a company or person for services performed.

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