Which of the following is an asset account?
A)Salaries Expense
B)Accounts Payable
C)Service Revenue
D)Prepaid Expense

Question

Quizplus · Accepted Answer

Prepaid Expense is an asset account because it represents an amount paid in advance for goods or services that will be used in the future. Salaries Expense, Accounts Payable, and Service Revenue are all different types of accounts, but they are not considered asset accounts. Salaries Expense is an expense account, Accounts Payable is a liability account, and Service Revenue is a revenue account.

Which of the Following Is an Asset Account