Some examples of asset accounts include Cash, Accounts Receivable, Inventory, Prepaid Expenses, Investments, Buildings, Equipment, Vehicles, Goodwill, and many more.

What are 4 asset accounts?

Current assets

• Cash. Includes bills and coins on hand, such as petty cash.
• Bank deposits. Includes cash kept in depository accounts.
• Marketable securities.
• Trade accounts receivable.
• Other accounts receivable.
• Notes receivable.
• Prepaid expenses.
• Other current assets.

What type of account is asset?

Account Types

Which of the following accounts is not an asset account?

1. (TCO A) Of the following assets which is not considered a financial asset: (Points : 5) Corporate bonds Common stock Options Vacation … read more 1. Chapter 1—Introduction to Accounting and Business Question 1. Chapter 1—Introduction to Accounting and Business Question MC #27 (Points: 2.5) The initials GAAP stand for 1.

Which is not an asset of a company?

Which of the following is not an asset: a. Accounts Payable b…. – (1 Answer) | Transtutors 1. Which of the following is not an asset: a. Accounts Payable b. Furnishing and Equipment d. Cash 2. Amy Co. acquired $500 worth of supplies on credit.

When are accounts are never adjusted in the adjustment process?

When adjusting entries are made cash is never paid out or received. The Cash account, in the general ledger, reflects the balance of all cash receipts and all payments made.

What does it mean to have an asset account?

Asset Accounts. What is an Asset Account? – Definition. 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. In other words, assets are items that a company uses to generate future revenues or maintain its operations.