Which of the following accounts would be reported as assets on the balance sheet?

  1. Cash, retained earnings, and accounts receivable.
  2. Cash, accounts payable, and notes payable.
  1. Cash, accounts receivable, and inventories.
  2. Inventories, property and equipment, and common stock.

Answer c. Cash, accounts receivable, and inventories

Explanation: In accounting, an asset is any resource controlled or owned by a business or an organisation. Anything that can be utilised to deliver positive economic and monetary worth is an asset. Assets address the value of possession that can be changed over into cash.

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