Which Type of Account Would NOT Be Reported on the Balance

question 41

Multiple Choice

Which type of account would NOT be reported on the balance sheet?

• A) Expense
• B) Cash
• C) Accounts Payable
• D) Equipment

---

Definitions:

Retirement

The process of removing an asset from service after its useful life has ended, often involving its disposal or sale.

Gain or Loss

The financial result from a transaction that leads to an increase (gain) or decrease (loss) in the asset value of a company.

Straight-line Amortization

A method of evenly spreading out the cost of an intangible asset over its useful life.

Interest Payment

The amount paid at regular intervals (often annually or semi-annually) on a debt instrument such as a bond or loan, based on the interest rate and the principal amount.