Asset Classification Flashcards
1
Q
Cash at Bank
A
Current Asset
2
Q
Inventory
A
Current Asset
3
Q
Accounts Receivable
A
Current Asset
4
Q
Accrued Income
A
Current Asset
5
Q
Prepaid Rent
A
Current Asset
6
Q
Prepaid Insurance
A
Current Asset
7
Q
Prepaid Advertising
A
Current Asset
8
Q
Interest Expense
A
Expense
9
Q
Interest Income
A
Income
10
Q
Tax Payable
A
Current Liability
11
Q
Accounts Payable
A
Current Liability
12
Q
Accrued Wages
A
Current Liability
13
Q
Capital
A
Equity
14
Q
Retained Earnings
A
Equity
15
Q
Short Term Debt
A
Current Liability
