Assets for a particular business might include
A) cash, retained earnings, and accounts payable.
B) cash, common shareholders' equity, and accounts receivable.
C) cash, property, plant, and equipment, and accumulated other comprehensive income.
D) cash, inventories, and goodwill.

Question

Quizplus · Accepted Answer

Assets for a business include items that the company owns and can use to generate revenue, such as cash, inventories, and goodwill. Retained earnings, common shareholders' equity, and accumulated other comprehensive income are not assets; they are part of equity. Accounts payable is a liability.

Assets for a Particular Business Might Include