Identify the account below that is classified as an asset account and would appear on the left side of the accounting equation.
A) Accounts Receivable.
B) Owner's Capital.
C) Accounts Payable.
D) Revenue.

Question

Quizplus · Accepted Answer

Accounts Receivable is a type of asset account representing the money owed to a business by its customers or clients. It would appear on the left side of the accounting equation, which shows the assets of a company. Owner's Capital and Revenue are equity accounts, and Accounts Payable is a liability account, which appear on the right side of the accounting equation.

Identify the Account Below That Is Classified as an Asset