Which One of the Following Groups of Accounts Contains Only

question 30

Multiple Choice

Which one of the following groups of accounts contains only assets?

• A)Contributed capital, retained earnings, revenues.
• B)Cash, contributed capital, retained earnings.
• C)Prepaid expenses, land, accounts receivable.
• D)Building, equipment, depreciation expense.

---

Definitions:

Absolutely Void

A term describing contracts or transactions that have no legal effect and cannot be enforced by either party.

Royal Bank of Canada v. Holoboff

A legal case, which specific details would need to be looked up, likely involving issues of banking, finance, or contractual disputes.

Tort of Conspiracy

A civil wrong that involves a collaboration among a group of individuals to commit an act to deceive or defraud others, causing them loss or harm.

Fraud

The intentional deception made for personal gain or to damage another individual.