Miguel decided to open a lemonade stand on Saturdays. Match Miguel's business activities to the following balance sheet items. (Note: each balance sheet item can only be used once).
-At the end of the day, Miguel has cash in his pocket from sales.
A) Long-term liability
B) Accounts payable
C) Accounts receivable
D) Long-term asset
E) Inventory
F) Cash

Question

Quizplus · Accepted Answer

Miguel has cash in his pocket from sales, which directly increases his cash on hand, a current asset on the balance sheet.

Miguel Decided to Open a Lemonade Stand on Saturdays