Which of these does not fit the accounting definition of an asset?
A) Accounts receivable
B) Staff skill and experience
C) Goodwill
D) Cash at bank

Question

Quizplus · Accepted Answer

Staff skill and experience is not a tangible or intangible resource that is owned or controlled by an entity and that can be used to produce value. It may be valuable to a business, but it is not considered an asset under accounting standards. The other options, accounts receivable, goodwill, and cash at bank, are all assets that meet the accounting definition.

Which of These Does Not Fit the Accounting Definition of an Asset