Which of the following accounts represents a resource of the company?
A)Common stock.
B)Service revenue.
C)Accounts receivable.

Question

Quizplus · Accepted Answer

Accounts receivable represent resources of the company because they are amounts owed to the company by its customers for goods or services that have already been provided. Common stock represents ownership in the company, and service revenue represents the company's earnings from providing services to its customers, both of which are not resources.

Which of the Following Accounts Represents a Resource of the Company