Which of the Following Types of Accounts Are NOT Found

question 88

Multiple Choice

Which of the following types of accounts are NOT found on the balance sheet?

• A) Revenues
• B) Assets
• C) Liabilities
• D) Owners' equity

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Definitions:

Trading Portfolio

A collection of financial assets such as stocks, bonds, commodities, and currencies that are held primarily for the purpose of selling them in the near term with the objective of profit.

Fair Value Method

An accounting approach for valuing and reporting assets and liabilities on the basis of estimates of their current fair market prices.

Available-For-Sale Debt Investments

Financial assets in the form of debt securities that a company intends to hold for a period but are not classified as held-to-maturity or trading securities.