tc account Financial Accounting Quiz

Which of the following is NOT a current asset?

• Cash and cash items

• Inventories

• Bonds payable

• Prepaid expenses

Accounts receivable is classified under:

• Current liabilities

• Non-current assets

• Current assets

• Owner's equity

Prepaid insurance is an example of:

• Non-current liabilities

• Current assets

• Stockholders' equity

• Non-current assets

Inventories belong to which section of the balance sheet?

• Current assets

• Non-current liabilities

• Owner’s equity

• Fixed assets

Which of the following is a fixed asset?

• Accounts payable

• Property, plant, and equipment

• Cash items

• Wages payable

Goodwill is classified as:

• Current liabilities

• Intangible assets

• Treasury stock

• Preferred stock

Non-current assets include all EXCEPT:

• Intangible assets

• Investments

• Accounts payable

• Property, plant, and equipment

Wages payable is classified under:

• Current assets

• Current liabilities

• Non-current liabilities

• Intangible assets

Taxes payable is considered a:

• Non-current liability

• Stockholders' equity item

• Current liability

• Current asset

Interest payable falls under:

• Non-current assets

• Stockholders' equity

• Current liabilities

• Investments