All of the following accounts would be considered assets EXCEPT for:
A)Cash.
B)Retained earnings.
C)Prepaid expenses.
D)Notes receivable.

Name: All of the following accounts would be considered assets EXCEPT for: A)Cash. B)Retained earnings. C)Prepaid expenses. D)Notes receivable.
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Question

Quizplus · Accepted Answer

Retained earnings is not an asset account but rather an equity account that shows the cumulative profits or losses of a company since its inception.

All of the Following Accounts Would Be Considered Assets EXCEPT