Which of the Following Are Assets

question 26

Multiple Choice

Which of the following are assets?

• A) salaries payable
• B) bad debts
• C) inventory
• D) accounts payable

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Definitions:

Treasury Stock

Shares that were once in circulation but were bought back by the issuing company, decreasing the amount of stock outstanding.

Par Common Stock

The nominal or face value assigned to a share of common stock by the company's corporate charter.

Fair Market

The price at which an asset would change hands between a willing buyer and a willing seller, both having reasonable knowledge of the relevant facts.

Total Assets

The total value of everything a company owns, encompassing both current assets and long-term assets.