Question

Which of the following are assets? (check all that apply)


Cash


Retained Earnings


Accounts Payable


Accounts Receivable


Common Stock

Answer 1

1. Cash is a asset.
2. The retained earnings is not an asset because it is considered a liability to the firm.
3. Accounts payable is considered a current liability, not an asset, on the balance sheet.
4. Accounts receivable is listed as a current asset in the balance sheet, since it is usually convertible into cash in less than one year.
5. common stock is considered an asset

Answer 2

Answer: COMMON STOCK and CASH are assets.