All of the Following Are Considered "Assets" Except

question 75

Multiple Choice

All of the following are considered "assets" except:

• A) Cash
• B) Supplies
• C) Notes payable
• D) Merchandise inventory
• E) Accounts receivables

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Definitions:

Nominal Rate

The interest rate before adjustments for inflation, as opposed to the real rate which is adjusted for inflation.

APR

The Annual Percentage Rate (APR) is a measure of the cost of borrowing that includes interest and other fees, shown as a yearly rate.

Compound Interest

The concept of earning interest on previously earned interest. A sum earning compound interest grows exponentially over time.

Interest

The expense associated with taking out a loan or the earnings from an investment, usually quantified as a percent of the initial amount.