Which of the following is not an example of an asset?
A)Notes receivable
B)Supplies
C)Prepaid expenses
D)Retained Earnings

Question

Quizplus · Accepted Answer

Retained earnings is not an example of an asset. It is a portion of a company's equity that represents the cumulative profits that have not been distributed to shareholders as dividends. Assets, on the other hand, are resources owned or controlled by a company that have economic value and are expected to provide future benefit. Choices A, B, and C are all examples of assets.

Which of the Following Is Not an Example of an Asset