ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Children
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Cash
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Equipment
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Buildings
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Detailed explanation-1: -Answer and Explanation: b) Accounts payable is not an asset.
Detailed explanation-2: -Assets can be broadly categorized into current (or short-term) assets, fixed assets, financial investments, and intangible assets.
Detailed explanation-3: -Assets include physical items such as machinery, property, raw materials and inventory, and intangible items like patents, royalties and other intellectual property.
Detailed explanation-4: -Cash and cash equivalents, certificates of deposit, checking, and savings accounts, money market accounts, physical cash, Treasury bills. Property or land and any structure that is permanently attached to it. Personal property-boats, collectibles, household furnishings, jewelry, vehicles.