Which of the Following Is an Example of an Asset

question 13

Multiple Choice

Which of the following is an example of an asset account?

• A)Revenue
• B)Salaries Payable
• C)Cash
• D)Payroll Tax Expense

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Definitions:

Off-Duty Deputy

A law enforcement officer who is not currently on their assigned work shift, yet may still hold certain responsibilities and legal powers.

Illusory

Pertaining to something that seems real or possible but proves to be false or unattainable.

Conditional Promise

A pledge to do or not do something that is contingent upon a certain event occurring or a condition being met.

Pre-Existing Duty

An obligation that a party is already legally obliged to perform, which is not considered sufficient to serve as consideration for a new contract.