All of the following are asset accounts except:
A)Accounts Receivable.
B)Buildings.
C)Supplies expense.
D)Equipment.
E)Prepaid insurance.

Question

Quizplus · Accepted Answer

Accounts Receivable, Buildings, Equipment, and Prepaid Insurance are all examples of asset accounts as they represent resources owned by the company that can provide future economic benefits. However, Supplies Expense is an expense account, not an asset account, as it represents the cost of supplies consumed or used up in the normal operations of the business.

All of the Following Are Asset Accounts Except