Which Group of Accounts Is Comprised of Only Assets

question 183

Multiple Choice

Which group of accounts is comprised of only assets?

• A) Cash, Accounts Payable, Buildings
• B) Accounts Receivable, Revenue, Cash
• C) Prepaid Expenses, Buildings, Patents
• D) Unearned Revenues, Prepaid Expenses, Cash

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Definitions:

Units

refers to a single, quantified piece of something that is used for measurement or as a standard for exchange.

Average Variable Costs

The total variable costs (e.g., labor, materials) divided by the quantity of output produced, showing the variable cost per unit of output.

Workers

Individuals engaged in physical or mental labor to produce goods or provide services in exchange for wages.

Units

Basic quantities of measurement or items in inventory or production.