Which of the Following Accounts Is Not Included in the Asset

question 212

Multiple Choice

Which of the following accounts is not included in the asset section of the balance sheet?

• A) Services revenue.
• B) Accounts receivable.
• C) Supplies.
• D) Cash.
• E) Land.

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Definitions:

Weekly Salary

A fixed amount of money paid to an employee on a weekly basis as compensation for performed work.

Utility Bill

A bill for services provided by a utility company, such as electricity, water, natural gas, or telecommunications.

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the capital owned by the owners or shareholders.

Assets

Resources owned by a business that have economic value and can be converted into cash.