Which of the following is an asset liabilities d. Real property used in a trade or business. See full list on investopedia. Study with Quizlet and memorize flashcards containing terms like which of the following are not liquid assets?, how is the savings ratio calculated?, which of the following is a common short-term goal for a single person? and more. revenues b. Study with Quizlet and memorize flashcards containing terms like The financial system is primarily a means by which: A) funds are transferred from savers to borrowers. needed the balance sheet to look good for investors. com An asset is defined as a resource that is owned or controlled by a company that can be used to provide a future economic benefit. Which of the following is an example of an asset listed on a balance sheet? Value of equipment used in production. Feb 27, 2023 · Learn more about what assets and liabilities are, why they matter and how to calculate your net worth. Definition: An asset is a resource that has some economic value to a company and can be used in a current or future period to generate revenues. Prepaid Rent Expense D. Furniture. This statement is, Which of the following is an intangible asset? and more. The equation states that Assets = Liabilities + Equity. d) the asset is being constructed as a discrete project with the intent to be sold. , Which of the following is a capital asset Given the following lists of accounts, choose the list that contains only assets. C. Assets are listed in descending order of liquidity. Land OD. assets, 2. Assets can include things like property, cash, investments, jewelry, art and collectibles. Liabilities are things that are owed, like debts. Straight-line Study with Quizlet and memorize flashcards containing terms like Which of the following is not true about capital assets?, Which of the following is a capital asset? a. , is long-lived. Study with Quizlet and memorize flashcards containing terms like The purchase price and all costs to bring an asset to its desired condition and location for use should be ______. accounting Which of the following dates are correct for the Statement of Changes in Stockholders' Equity? Study with Quizlet and memorize flashcards containing terms like provide value to a company without being easily exchanged for cash. inventory, which one of the following us excluded from a firm's accounting value, but included in its market value? A. A change in customer needs d. Furniture 4. owner's equity c. A literary work held by the author b. Assets will increase and liabilities will decrease. Key takeaways. The relation of assets, liabilities and equity is reflected in the equation. Land used as a Study with Quizlet and memorize flashcards containing terms like The ________ _________ from a sale or other disposition of an asset is everything of value received from the buyer less any selling costs. goodwill C. Depreciable business property. , Which one of the following is a capital asset when a business was built by the taxpayer? Delivery truck. The service life of an Study with Quizlet and memorize flashcards containing terms like Which of the following accounts is a liability? A. Current assets are economic resources that are expected to be converted to cash or used up by the business within one year or the normal operating cycle, whichever is shorter. Units-of-activity method b. Assets are items that a company uses to generate future revenues or maintain its operations. Study with Quizlet and memorize flashcards containing terms like Which of the following is classified as an investment asset? Primary residence Money market accounts Stocks Certificates of deposit, Jason and Larissa would like to accumulate three times their monthly expenses in monetary assets. Cash, Building, Accounts Payable, Land Cash, Building, Supplies, Accounts Receivable Supplies, Owner's Capital, Cash, Accounts Receivable Building, Accounts Payable, Equipment Jan 22, 2025 · Study with Quizlet and memorize flashcards containing terms like Which of the following is not a business asset?, In accounting terms, the obligations a business owes to its creditors are called, The distribution of assets generated through earnings to stockholders' is called a(n) and more. equipment owned by the firm C. Real estate held by a developer d. claims exchange transaction B. Net working capital is equal total assets minus total liabilities. Service Revenue 5. Accounts Receivable C. About us. Assets will increase and liabilities will increase. Multiple choice question. The equation reflects that the total of what a business owns at any point in time will equal the total of what it owes creditors and owners. B. Accounts Question: Which of the following is not a depreciable asset? O A. Southern Airways maintained a receivable existed for the $2 million because it a. How Study with Quizlet and memorize flashcards containing terms like Purchasing prepaid rent is classified as an A. real estate purchased by the firm B. b. accounts receivable B. asset source transaction D. derivativesDefining risk as losing money Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets $ 21,000 Net income $ 45,000 Current liabilities 12,000 Stockholders' equity 63,000 Average assets 132,000 Total liabilities 27,000 Total assets 90,000 Average common shares outstanding was 15,000. Study with Quizlet and memorize flashcards containing terms like which one of the following is classified as a tangible fixed asset? A. Obsolescence due to technology, Which of the following is not one of the most common depreciation methods? a. c. , Which of the following costs would be capitalized? a) an asset purchased for a specific R&D project if the asset's useful life extends beyond the current year. Buildings O B. Assets are claims against the company. money The relationship between a business's assets and the claims on its assets is frequently expressed in an equality called the _____ equation. , An asset that has no physical substance is called, The allocation of the cost of a tangible fixed asset is referred to as and more. computer equipment D. Study with Quizlet and memorize flashcards containing terms like Which of the following statements is the best definition of an asset? Assets are the distributions to the owners of a company. 1) All of the following assets are capital assets, except:, Multiple Choice 8-2 What is a Capital Asset? (LO 8. cash E. Which is listed first on a financial statement? a. Goodwill. C) the government puts into operation its plans for the economy. 2) Yasmeen purchases stock on January 30, 2014. 1) Which of the following is a capital asset?, Multiple Choice 8-3 (LO 8. Service Revenue B. , capitalized and and more. d. asset exchange transaction, Cash $4,000 Dividends $2,000 Land $3,200 Accounts payable $1,800 Accounts receivable $3,400 Common stock $3,9000 Revenue $3,200 Expense $2,200 Total assets on Carolina's Which of the following is not an example of behavioral biases affecting individual investors?Fear of missing outAvoiding assets with recent price run-upsFear of the unfamiliar, e. Troy's grandmother had owned the stock for fifteen years and had a basis of $14 per share. Jan 22, 2025 · Study with Quizlet and memorize flashcards containing terms like Which of the following statements is true regarding the amortization of intangible assets? Multiple Choice In recording amortization, Accumulated Amortization is always credited. By liquidity. By importance. Current assets are equal to total assets minus net working capital. Prepaid Insurance 6. Computers O C. believed the U Study with Quizlet and memorize flashcards containing terms like Multiple Choice 8-1 What is a Capital Asset? (LO 8. In a classified balance sheet, how are assets usually classified? In what order are current assets listed? A. Common Stock 3. Assets are things you own that have value. Enter the answer as a decimal to three Jan 22, 2025 · c) the asset includes inventory that is routinely manufactured by the company. None of these choices are correct. Assets are resources owned or controlled by a company and that have expected future benefits. Intangible assets with a limited useful life are not amortized. e. Total assets equal total liabilities minus total equity. A decline in the market value of the asset c. About Quizlet; How Quizlet works; Careers; Study with Quizlet and memorize flashcards containing terms like Which of the following items is a capital asset? An automobile for personal use. D) business firms distribute their goods. government. If she wishes to achieve a long-term holding Study with Quizlet and memorize flashcards containing terms like Which of the following is an accurate definition of the term asset? a) An obligation to creditors b) A resource that will be used to produce revenue c) A transfer of wealth from the business to its owners d) A sacrifice incurred from operating the business, Which of the following is not a source of assets? a) Creditors b Study with Quizlet and memorize flashcards containing terms like Which of the following is considered physical depreciation of a fixed asset? a. A truck used in a taxpayer's business c. By longevity. Accounts receivable for inventory sold. A taxpayer's principle residence e. Which one of the following statements concerning the balance sheet is correct? a. Unearned Revenue, Consider the following accounts and identify each as an asset (A), liability (L), or equity (E). The equation applies to all transactions and events. These resources take many forms from cash to buildings and are recorded on the balance sheet until they are used. B) money is put into circulation. maintained it could collect the $2 million from the Cuban c. 1. Normal wear and tear b. Assets will decrease and stockholders' equity will decrease. The expected residual value of most intangible assets is zero. g. asset use transaction C. Study with Quizlet and memorize flashcards containing terms like 1. , Troy received a gift of 100 shares of stock from his grandmother on July 1 of the current year. Which of the following is the best definition of a source document in the accounting process? A source document identifies and describes transactions and is the basis for entering an event into the accounting system. They currently have $2,800 in their money market account, and their monthly expenses are $4,500. On This transaction will have which of the following impacts on the accounting equation? a. Rent Expense 2. Assets will decrease and stockholders' equity will increase. , Which of the following is NOT a financial asset? A) a bond issued by Google B) Wells Study with Quizlet and memorize flashcards containing terms like Which of the following is not a tangible asset?, Land is different from other tangible assets in that its utility is not diminished by its use. vihxv opxh oys ndhpel rfx geapn qdjny hwwk ghirs ajzlss