The financial accounting "element" that best describes a car owned by a company is
A) Assets
B) Liability
C) Equity
D) Expense
E) Revenue

Name: The financial accounting "element" that best describes a car owned by a company is A) Assets B) Liability C) Equity D) Expense E) Revenue
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Question

Quizplus · Accepted Answer

A car owned by a company would be classified as an asset on the balance sheet, as it is a resource that is expected to provide future economic benefits to the company.

The Financial Accounting "Element" That Best Describes a Car Owned