Which of the following is an example of a non-liquid asset? Accounts Receivable O Raw Material Inventory O Cash O Common Stock
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- Which of the following is not an asset account?a. Cashb. Landc. Equipmentd. Common StockIdentify the asset from the following list of accounts:a. Notes Payableb. Common Stockc. Retained Earningsd. InventoryWhich of the following items is NOT classified as a financial asset? a. promissory notes b. forward exchange contracts c. inventory d. accounts receivable
- What is an account receivable? O a. Sales O b. Asset Oc. Income O d. CreditorsHow do you decide the liquidity order (what asset come before the other...expenses vs prepaid vs inventory) of current assets?Accounts receivable can be classified as _____ a. A Expense. b. A Liability. c. A Capital d. An Asset
- The realizable amount of notes receivable is considered. a. Income b. all of the above c. Noncurrent asset d. Current assetThe balance sheet account that is usually reported at its fair market value is: a. Short-term marketable securities b. Accounts receivable c. Current liabilities d. InventoryUnder which of the following categories would Accounts Receivable appear? A. long−term assets B. current assets C. long−term liabilities D. current liabilities
- he Revaluation Reserve Account should be accounted for as part of a. Assets b. Liability c. Equity d. ExpensWhat item flows from the income statement to the statement of retained earnings?a. Cashb. Dividendsc. Net incomed. InventoryWhat is the relationship between total liabilities and total assets? What is it called?