Identify whether each of the following items is a financial asset:
$$\begin{array} { | l | l | }
\hline \text { 3-year bond issued by the reporting entity } & \text { Financial asset? (Yes/No) } \
\hline \text { Finished goods inventory } & \
\hline \text { Prepaid rent } & \
\hline \text { Investment in a joint venture } & \
\hline \text { Investment in shares of another entity } & \
\hline
\end{array}$$

Question

Identify whether each of the following items is a financial asset:
$$\begin{array} { | l | l | } 
\hline \text { 3-year bond issued by the reporting entity } & \text { Financial asset? (Yes/No) } \
\hline \text { Finished goods inventory } & \
\hline \text { Prepaid rent } & \
\hline \text { Investment in a joint venture } & \
\hline \text { Investment in shares of another entity } & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Identify whether each of the following items is a financial asset:
$$\begin{array} { | l | l | } 
\hline \text { 3-year bond issued by the reporting entity } & \text { Financial asset? (Yes/No) } \
\hline \text { Finished goods inventory } & \
\hline \text { Prepaid rent } & \
\hline \text { Investment in a joint venture } & \
\hline \text { Investment in shares of another entity } & \
\hline
\end{array}$$

Identify Whether Each of the Following Items Is a Financial