Which of the following is not an asset?
A)Cash
B)Notes receivable
C)Contributed capital
D)Land

Question

Quizplus · Accepted Answer

Contributed capital is a liability, not an asset. It represents the amount of money that shareholders have invested in the company in exchange for ownership. Assets are resources that a company owns and has the ability to generate economic benefits from. Cash, notes receivable, and land are all examples of assets.

Which of the Following Is Not an Asset