Which of the Following Would Be Listed as an Asset

question 19

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

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Definitions:

Primarily Rental

A classification for a property used mainly for rental purposes, affecting tax treatment and deductions.

Plumbing Repair

Refers to the services and actions taken to fix, maintain, or install water, gas, and sewage systems in residential or commercial properties.

Rental Income

Revenue generated by leasing property or equipment.

Primarily Rental

Pertaining to the use of property mainly for rental purposes, which may affect the tax treatment of income and expenses related to the property.