Which of the following is an asset account?

Question

Quizplus · Accepted Answer

An asset account represents something of value that a company owns, such as equipment or inventory. Therefore, the only option that is an asset account is C) Office Equipment.

The other options are all expense accounts, which represent costs incurred by the company rather than items of value that they own. A) Insurance Expense represents the cost of insurance, while B) Advertising Expense represents the cost of advertising. D) Sales, while not an expense, is a revenue account that represents the money earned by the company from its sales transactions. Therefore, the correct answer is C) Office Equipment.

Which of the Following Is an Asset Account