Which of the following is listed as an asset on an individual's balance sheet?
A) Bank credit card balances
B) Education loans
C) Outstanding medical bills
D) Checking accounts
E) Leased automobiles

Question

Quizplus · Accepted Answer

Checking accounts are considered assets as they represent a positive balance of cash that the individual has in their possession. Bank credit card balances, education loans, outstanding medical bills, and leased automobiles are liabilities as they represent debts owed by the individual.

Which of the Following Is Listed as an Asset on an Individual's