All of the Following Are Classified as Assets Except

question 100

Multiple Choice

All of the following are classified as assets except:

• A)Accounts Payable.
• B)Accounts Receivable.
• C)Cash.
• D)Supplies.
• E)Prepaid Insurance.

---

Definitions:

Accounting Costs

Expenses recognized and recorded in financial statements, including cost of goods sold, operating expenses, and taxes.

Tax-Deferred Savings

Investment accounts that offer tax benefits, deferring taxes on earnings until funds are withdrawn.

Loanable Funds

The market where savers supply funds to borrowers, often facilitated by financial institutions, influencing interest rates through supply and demand.

Interest Rate

The proportion of interest a borrower is charged for borrowing money from a lender.