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

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Definitions:

Binding Price Floor

A legally established minimum price above the equilibrium price, causing a surplus in the market.

Hybrid Cars

Vehicles powered by a combination of an internal combustion engine and one or more electric motors, utilizing both fuel and electricity.

Consumer Surplus

The gap between what consumers are prepared to pay for a good or service and what they actually do pay.

Binding Price Floor

A minimum price set by the government for certain goods and services that is above the equilibrium price, causing a surplus.