Which of the Following Accounts Would Be Reported as Assets

question 9

Multiple Choice

Which of the following accounts would be reported as assets on the balance sheet?

• 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.

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Definitions:

Lend Money

The act of giving money to another party with the expectation that it will be paid back, often with interest, at a later date.

Bank Charters

Legal documents issued by a governmental or regulatory body granting the right to operate as a bank and outlining the specific conditions under which the bank must operate.

Savers

Individuals or entities that set aside a portion of their disposable income, rather than using it for consumption expenditures.

Borrowers

Individuals or entities that take out loans from financial institutions or individuals, agreeing to repay them over time, typically with interest.