Which of the following are assets?
A) salaries payable
B) bad debts
C) inventory
D) accounts payable

Question

Quizplus · Accepted Answer

Inventory is an asset because it represents goods or products that a company intends to sell in the near future, and can be converted into cash.

Salaries payable and accounts payable are liabilities because they represent amounts owed by a company to its employees or suppliers, respectively.

Bad debts represent amounts owed to a company by customers who are unlikely to repay, and are therefore considered a type of expense, not an asset.

Which of the Following Are Assets