Which of the Following Accounts Is NOT an Example of an Asset

question 89

Multiple Choice

Which of the following accounts is NOT an example of an asset?

• A)Building
• B)Cash
• C)Bills payable
• D)Accounts receivable

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Definitions:

Supply Price

The minimum price at which a producer is willing to sell a particular quantity of a good or service.

Price Ceiling

A legal maximum price that can be charged for a good or service.

Producer Surplus

The differentiation between the amount at which producers are content to sell a good or service and their actual revenue.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or service is not achieved or is not achievable through market means, often due to market failures or intervention.