All of the Following Are Classified as Assets Except

question 96

Multiple Choice

All of the following are classified as assets except:

• A) Accounts Payable.
• B) Land.
• C) Equipment.
• D) Accounts Receivable.
• E) Supplies.

---

Definitions:

Private Sector

The part of the economy that is owned and operated by individuals and companies for profit, as opposed to being government controlled.

Public Sector

The public sector comprises government-run organizations, agencies, and companies, providing services like education, healthcare, and infrastructure to the public.

Insourcing

The practice of performing business functions or services within a company using its own staff and resources, as opposed to outsourcing.

Outsourcing

The business practice of hiring third parties to perform services or create goods that were traditionally performed in-house.