Which of the Following Is an Asset

question 160

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:

Subscription Service

A pricing strategy where clients are charged a consistent fee periodically to use a product or service.

Escrow Company

A neutral third-party entity that holds assets, including money, property, and documents, on behalf of other parties during the completion of a transaction.

Financing Statement

A document filed to give public notice of a secured transaction, indicating an interest in the assets of a debtor.

Collateral

Collateral offered to secure a loan, subject to seizure upon default.