Which of the following accounts would be reported as assets on the balance sheet?
Posted: Sat Aug 07, 2021 6:44 am
A) Cash, accounts payable, and notes payable.
B) Cash, retained earnings, and accounts receivable.
C) Cash, accounts receivable, and inventories.
D) Inventories, property and equipment, and common stock.
Answer: C
Explanation: Assets include but are not limited to cash, accounts receivable, and inventories.
They are considered to be economic resources of a business.
B) Cash, retained earnings, and accounts receivable.
C) Cash, accounts receivable, and inventories.
D) Inventories, property and equipment, and common stock.
Answer: C
Explanation: Assets include but are not limited to cash, accounts receivable, and inventories.
They are considered to be economic resources of a business.