Which of the Following Would Be Listed as an Asset

question 78

Multiple Choice

Which of the following would be listed as an asset on the balance sheet for a children's clothing shop?

• A) Interest due on startup loan
• B) Retained earnings
• C) Accounts receivable
• D) Money owed to vendors
• E) Cost of goods sold

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Definitions:

Cash Disbursements

Payments made in cash or cash equivalents, often tracked in a ledger to manage cash flow.

Selling and Administrative Expense Budget

A detailed plan outlining the expected selling and administrative expenses for a specific period, usually contributing to the master budget.

Budgeted Sales

Sales levels projected or planned for a future period.

Manufacturing Overhead Budget

A detailed plan that estimates all expected indirect production costs except for direct labor and direct materials.