Which of the Following Items Would Not Be Included on a Balance

Items on the balance sheet that represent amounts owed to others are termed A) assets. B) liabilities. C) revenues. D) expenses. E) none of the above.

When including an asset such as a car on your balance sheet A) list its current value as indicated in a blue book or site like www.edmunds.com. B) list the original purchase price of the vehicle. C) list the amount it would cost to purchase a new model of this vehicle. D) none of the above.