Which of the Following Types of Accounts Would Not Be

question 28

Multiple Choice

Which of the following types of accounts would not be included on a budgeted balance sheet?

• A) Cash.
• B) Assets.
• C) Liabilities.
• D) Revenues.

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Definitions:

Maintenance

The routine care and servicing by personnel for the purpose of maintaining equipment or facilities in satisfactory operating condition.

Operating Lease

A lease agreement that allows for the use of an asset but does not convey rights of ownership of the asset.

Financial Lease

A long-term lease agreement that allows the lessee to use an asset while essentially assuming both the risks and benefits of ownership.