Which of the Following Is Not an Asset Account

question 39

Multiple Choice

Which of the following is not an asset account?

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

---

Definitions:

Principal Office

The main executive office of a business where key administrative and leadership activities are conducted.

Alien Corporation

A corporation that though incorporated in a foreign country does business in the United States.

Undercapitalization

A financial condition where a company lacks sufficient capital to support its operations effectively, often leading to financial difficulties.

Corporate Façade

Refers to an outward appearance maintained by a corporation to conceal its actual purposes or state, often used in a critical context to suggest a lack of transparency or authenticity.