fatmaabdallah01
Answered

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Which of the following is not an asset? A. Buildings B. Cash balance C. Debtors D. Loan from K Harris​

Sagot :

jaleesa31

Answer:

C. Debtors is the answer that I feel is correct

The following is not an asset is : Loan from K Harris​ , because Loan from K Harris is Liability not an asset.  Loan from K Harris is definitely is not an asset its a liability and recorded on credit site of the Balance Sheet.

  • An asset is an item from which economic benefits flow unto an entity (a person or company in control of it). Thus, we can conclude from the question that:

                  1. A Building - It is an asset.

                  2. A Cash Balance - It is an asset.

                  3. A Debtors - It is an asset.

                  4. Loan from K Harris​-It is not an asset.

What is an asset?

  • An asset is something containing economic value and/or future benefit.
  • An asset can often generate cash flows in the future, such as a piece of machinery, a financial security, or a patent.
  • Personal assets may include a house, car, investments, artwork, or home goods.

What are Asset types?

  • Cash and cash equivalents.
  • Accounts Receivable.
  • Inventory.
  • Investments.
  • PPE (Property, Plant, and Equipment)
  • Vehicles.
  • Furniture.
  • Patents (intangible asset)

Thus, we can say that the correct answer is : D - Loan from K Harris​ is not an assets .

Learn more about Asset on:

brainly.com/question/25746199

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