Which of the Following Is an Asset

question 61

Multiple Choice

Which of the following is an asset?

• A)Service revenue
• B)Notes payable
• C)Supplies expense
• D)Prepaid rent

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Definitions:

Elastic

Elastic, in economics, refers to a situation where the quantity demanded or supplied of a good or service significantly changes in response to changes in price.

Inelastic

A characteristic of a good or service whose demand doesn't significantly change when its price changes.

Tax Burden

the distribution of taxation on an individual or economic entity or the total amount of taxes paid by society as a whole.

Rent Controls

are government-imposed limits on the amount landlords can charge tenants for rent.