Which of the following accounts is not included in the asset section of the balance sheet?
A) Services revenue.
B) Accounts receivable.
C) Supplies.
D) Cash.
E) Land.

Question

Quizplus · Accepted Answer

Services revenue is a source of income and is reported in the income statement. The asset section of the balance sheet only includes items that have a tangible monetary value and are owned by the company, such as cash, accounts receivable, supplies, and land.

Which of the Following Accounts Is Not Included in the Asset