Which of These Assets That Could Be Listed on a Balance

question 44

Multiple Choice

Which of these assets that could be listed on a balance sheet is likely not to translate into future economic benefits?

• A) large inventories of spare parts
• B) inventory that has been on the shelves for over a year
• C) debtors that have been outstanding for several months
• D) all of the above

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Definitions:

William Sherman

A Union general during the American Civil War famed for his March to the Sea, significantly impacting the southern Confederate states.

Jim Crow Laws

A set of state and local laws in the United States enacted between the late 19th and early 20th centuries that legalized racial segregation and discrimination against African Americans.

Railroad Companies

Businesses that operate trains for transporting goods and passengers on tracks.

Fifteenth Amendment

An amendment to the US Constitution ratified in 1870, guaranteeing voting rights regardless of "race, color, or previous condition of servitude."