Asked by ornela xhina on May 05, 2024
Verified
Which of the following is NOT an Asset?
A) Cash
B) Accounts Receivable
C) Buildings
D) All of the above are Assets.
Assets
Economic resources held by an enterprise, capable of delivering future gains.
Accounts Receivable
Money owed to a business by its customers for goods or services delivered or used but not yet paid for.
Buildings
Real estate structures used for residential, commercial, or industrial purposes.
- Identify the types and classifications of assets and understand their effect on the accounting equation.
Verified Answer
DA
Dequez AndrewsMay 09, 2024
Final Answer :
D
Explanation :
All the options listed (Cash, Accounts Receivable, Buildings) are considered assets. Assets are resources owned by a business or individual that have economic value or are expected to provide future benefits.
Learning Objectives
- Identify the types and classifications of assets and understand their effect on the accounting equation.