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  • Basic Accounting Online Quiz
  • Which is an asset?
Multiple choice

Which is an asset?

  1. Long-term loan

  2. Accounts payable

  3. Equipment

  4. Debts

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Equipment is a tangible item owned by the business used to generate revenue, making it an asset. Accounts payable and loans are liabilities.

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