Financial Assets Include All of the Following Except

question 48

Multiple Choice

Financial assets include all of the following except:

• A) excess cash
• B) short term investments
• C) intangible assets
• D) long-term investments

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Definitions:

Cash Over And Short

An account that records the discrepancies between the actual cash received and the expected amount.

Credit Balance

An accounting term that signifies a positive balance in a liability, revenue, or equity account, which increases on the credit side and decreases on the debit side.

Petty Cash Fund

A nominal sum of cash reserved for quick payments of assorted trivial expenses.

Replenishing

Refers to the process of adding stock or supplies to bring quantities back up to predetermined levels.