Which of the following is NOT a type of asset? A) current B) fixed C)
QUESTION
Which of the following is NOT a type of asset?
A) current
B) fixed
C) intangible
D) owners’ equity
E) goodwill
ANSWER
Answer: D
Explanation: D) Assets are of three types: current, fixed, and intangible (goodwill). Owners’ equity is NOT a type of asset; it is, rather, the value of a firm if its assets are sold and its debt paid.
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