Which of the Following Is Not an Example of an Asset

question 69

Multiple Choice

Which of the following is not an example of an asset?

• A)Notes receivable
• B)Supplies
• C)Prepaid expenses
• D)Retained Earnings

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Definitions:

Borrowed Funds

Money obtained through loans or credit arrangements, which is expected to be repaid with interest.

Total Assets

The sum of all current and non-current assets owned by a company, indicating the company's overall value.

Average Collection Periods

The average number of days it takes for a business to receive payments owed by its customers.

Uncollected

Refers to funds or debts that have not been received or recovered by the due date.