Answered: Which of the following is an asset?a.…

Which of the following is an asset?a. Common Stockb. Service Revenuec. Salary Expensed. None of the listed accounts is an asset.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 15MC: Which of these accounts is an asset? A. Common Stock B. Supplies C. Accounts Payable D. Fees Earned

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Which of the following is an asset?
a. Common Stock
b. Service Revenue
c. Salary Expense
d. None of the listed accounts is an asset.

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