Which of the Following Would Be Listed as an Asset

question 82

Multiple Choice

Which of the following would be listed as an asset on the balance sheet of a hardware store?

• A) Nuts and bolts
• B) A set of metric wrenches
• C) Display cabinets
• D) A $55 credit card charge to a store patron
• E) All of these

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Definitions:

Buyer

An individual or entity that purchases goods or services from another in a commercial transaction.

Allocation Of Risk

The process of defining and assigning the financial or operational responsibilities associated with potential risks in contractual agreements.

Parties

Individuals, groups, or entities that enter into a legal agreement or are involved in a legal proceeding.

Agreement

A mutual understanding or arrangement between two or more parties about their relative rights and responsibilities.