Which of the Following Accounts Is Not Included in the Asset

question 6

Multiple Choice

Which of the following accounts is not included in the asset section of the balance sheet?

• A)Cash.
• B)Accounts receivable.
• C)Supplies.
• D)Land.
• E)Services revenue.

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Definitions:

Cash Cycle

It refers to the time period between the disbursement of cash and the collection of receivables in a company's operational cycle.

Credit Sales

Sales made by a business where payment is delayed, often part of a strategy to increase sales by offering customers flexibility.

COGS

The cost of goods sold; it represents the direct costs attributable to the production of goods sold in a company.

Inventory Period

The average time an item remains in inventory before being sold, indicating the efficiency of inventory management.