Which of the following accounts is classified as a short-term financial asset?
A)Office Supplies
B)Accounts Receivable
C)Equipment
D)Prepaid Insurance

Question

Quizplus · Accepted Answer

Accounts receivable is classified as a short-term financial asset because it represents money owed to the company by its customers, which is expected to be collected within a year. Office supplies, equipment, and prepaid insurance are not financial assets.

Which of the Following Accounts Is Classified as a Short-Term