Identify the account below that is classified as an asset account:
A) Accounts Payable
B) Unearned Revenue
C) J. Jackson, Capital
D) Service Revenue
E) Supplies

Question

Quizplus · Accepted Answer

Supplies are items owned by the company and are considered assets. The other options are liabilities (Accounts Payable and Unearned Revenue) or equity/revenue accounts (J. Jackson, Capital and Service Revenue).

Identify the Account Below That Is Classified as an Asset