All of the Following Are Asset Accounts Except

question 152

Multiple Choice

All of the following are asset accounts except:

• A) Prepaid insurance.
• B) Supplies expense.
• C) Accounts Receivable.
• D) Equipment.
• E) Buildings.

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Definitions:

Potential Lender

An individual or institution considering the provision of credit or loans to borrowers under specific conditions.

Department of Commerce

A division of a government that is concerned with promoting economic growth, trade, and market regulations.

Factoring

The practice of raising funds for a business through the sale of accounts receivable.

Finance Company

A business that provides loans to individuals or other companies, typically specializing in sectors like consumer finance, vehicle financing, or business loans.