Which of the Following Is Considered an Asset

question 23

Multiple Choice

Which of the following is considered an asset?

• A)Accounts Payable
• B)Sales
• C)Accounts Receivable
• D)Common Stock

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Definitions:

Compounded Quarterly

Interest on a loan or investment is calculated four times a year, with each interest payment added to the principal.

RRSP

Registered Retirement Savings Plan, a Canadian financial account for holding savings and investment assets, aimed at retirement.

Ordinary Annuity

An annuity that makes regular payments to the annuitant at the end of each payment period for a fixed period of time.

Compounded Quarterly

Interest calculation method where the interest is added to the principal amount every three months, leading to interest on interest in subsequent periods.