Several items from the financial statements of Fireside Tires are listed. Use the following choices to identify the type of account for each item listed. (Choices may be used more than once.)
-Cash
A)Assets
B)Liabilities
C)Revenues
D)Expenses
E)Stockholders' Equity

Question

Quizplus · Accepted Answer

Cash is considered an asset because it represents a resource owned or controlled by the company that is expected to bring future economic benefits.

Several Items from the Financial Statements of Fireside Tires Are