Which of the Following Accounts Is Not Considered an Asset

question 148

Multiple Choice

Which of the following accounts is not considered an asset?

• A) Cash
• B) Inventory
• C) Common stock
• D) Trademark

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Definitions:

Error

An unintentional mistake in financial records or transactions, which can result from miscalculations, misunderstandings, or misinterpretations of financial data.

Transactions

Financial activities that involve the exchange of assets, provision of services, or other business activities that affect a company's financial position.

Debit And Credit

In accounting, debit and credit are entries that record changes in value to accounts, where debits increase asset or expense accounts and decrease liability, equity, and revenue accounts.

Increase And Decrease

General terms referring to the upward or downward movement in value, quantity, or level of something over time.