Question
upstudy study bank question image url

Which of the Following are Considered Assets ? \( \square \) 'Revenues \( \square \) Cash \( \square \) Inventory \( \square \) Accounts Payable \( \square \) Dividends \( \square \) Contributed Capital \( \square \) Accounts Receivable

Ask by Park Black. in the United States
Mar 12,2025

Upstudy AI Solution

Tutor-Verified Answer

Answer

Cash, Inventory, and Accounts Receivable are assets.

Solution

Sign in to Unlock Answers for Free!

A Learning Platform Trusted by Millions of Real Students and Teachers.

star-icon Unlock

Answered by UpStudy AI and reviewed by a Professional Tutor

Beyond the Answer

When thinking about assets, remember that they are valuable resources owned by an entity, expected to provide future economic benefits. So, cash, inventory, and accounts receivable fit the bill perfectly as they directly contribute to the wealth of the business, while revenues and dividends represent earned income and distributions which are not assets themselves. On the flip side, accounts payable and contributed capital are liabilities and equity categories respectively—money owed and the owner's investment in the business. So, if you’re trying to fill your asset box correctly, don’t let liabilities sneak in!

Related Questions

Latest Economics Questions

Try Premium now!
Try Premium and ask Thoth AI unlimited math questions now!
Maybe later Go Premium
Study can be a real struggle
Why not UpStudy it?
Select your plan below
Premium

You can enjoy

Start now
  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to Answer and Solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic

Totally free but limited

  • Limited Solution
Welcome to UpStudy!
Please sign in to continue the Thoth AI Chat journey
Continue with Email
Or continue with
By clicking “Sign in”, you agree to our Terms of Use & Privacy Policy