_____ Is an Example of Personal Property

question 66

Multiple Choice

_____ is an example of personal property.

• A) Jewelry
• B) A mutual fund
• C) A corporate bond
• D) A charge account
• E) A certificate of deposit

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Definitions:

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of a company's accounts receivable that may not be collected.

Accounts Receivable

Money owed to a company by its customers for goods or services delivered or used but not yet paid for.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of receivables that may not be collectible.

Contra Asset

An account on a company's balance sheet that reduces the total amount of an asset, such as accumulated depreciation.