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

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.

Quizplus · Accepted Answer

Assets for a business include items that provide future economic benefits, such as cash, inventories, and goodwill. Retained earnings, common shareholders' equity, and accumulated other comprehensive income are equity accounts, while accounts payable is a liability.

Assets for a Particular Business Might Include