Identify Each of the Assets Listed Below with the Appropriate

question 95

Short Answer

Identify each of the assets listed below with the appropriate classification:
A = Balance sheet,Current asset section
B = Balance sheet,Property,plant,and equipment section
C = None of the above
______ 1.Accumulated depreciation,equipment
______ 2.Depreciation expense
______ 3.Land
______ 4.Machinery
______ 5.Building
______ 6.Cash
______ 7.Notes receivable,due in 9 months
______ 8.Office supplies
______ 9.Trucks
______ 10.Sales
______ 11.Inventory
______ 12.Cost of goods sold
______ 13.Goodwill
______ 14.Computers
______ 15.Office furniture

---

Definitions:

365-day Year

A method used for interest calculations where a year is assumed to have exactly 365 days.

No-fault Insurance

A type of auto insurance policy where insureds are indemnified for losses by their own insurance company, regardless of fault in the incident.

Medical Expenses

Medical expenses refer to the costs incurred for healthcare services, including doctor visits, hospital stays, medications, and procedures, which can be covered by insurance or out-of-pocket payments.

Low-risk Driver

A motorist considered less likely to file an insurance claim based on factors like driving history, thereby often enjoying lower insurance premiums.