Which of These Does Not Fit the Accounting Definition of an Asset

question 54

Multiple Choice

Which of these does not fit the accounting definition of an asset?

• A) Accounts receivable
• B) Staff skill and experience
• C) Goodwill
• D) Cash at bank

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Definitions:

Social Insurance Programs

Government-sponsored programs that provide financial protection to individuals against economic risks such as unemployment, illness, and old age.

Welfare

Welfare refers to government programs and policies designed to support the well-being of individuals and communities, including health care, education, and financial aid.

Public Charity

A type of nonprofit organization that receives a significant portion of its funding from the public and operates for the benefit of the general public.

Income Statistics

Data that represent the distribution of income across different segments of the population.