What account does not appear on the balance sheet?
Understand the Problem
The question is asking about specific types of accounts that do not show up on a balance sheet. This relates to understanding financial statements and accounting principles.
Answer
Utility Expenses
The final answer is Utility Expenses.
Answer for screen readers
The final answer is Utility Expenses.
More Information
Utility expenses are considered operational costs and are recorded on the income statement rather than the balance sheet.
Tips
A common mistake is confusing income statement accounts with balance sheet accounts. Ensure to differentiate between operational expenses and assets/liabilities.
Sources
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