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:

Products

Goods or services that are created through a process of production and offered in the market to satisfy consumer needs or wants.

Resource Markets

Markets where factors of production (like labor, land, and capital) are bought and sold.

Households Incomes

Refers to the total amount of money earned or received by all members of a household, encompassing wages, salaries, benefits, and other income sources.

Circular Flow Model

An economic model illustrating the continuous flow of goods, services, and money between households and businesses in an economy.