Which of the Following Is NOT Part of Owner's Equity

question 156

Multiple Choice

Which of the following is NOT part of owner's equity?

• A) Accounts receivable
• B) Capital
• C) Notes payable
• D) Both A and C

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Definitions:

Cost Of Goods Sold

The total cost directly associated with producing the goods sold by a company, including materials and labor.

Manufactured

Refers to the state of having been made from raw materials through a process of production in a factory.

Finished Goods Inventory

The stock of completed products ready for sale, held at the end of an accounting period.

Net Income

The total earnings of a company after subtracting all expenses from revenues, including taxes and interest.