Identify Which Of The Following Lists Include Only Examples Of Assets.

The correct option of this multiple choice question is (d) as Building is categorized under Tangible Non-Current Assets while both Cash and Accounts Receivable are classified under Current Assets on Balance Sheet. This lists falls under the definition of Assets i.e., assets are resources which are owned and controlled by an entity against which the business expects to receive probable future economic benefits. A company purchased the building to be used in the office or for daily working operations of the business. The building is owned and controlled by the business to get future economic benefits such as after acquiring the new building in good location helps in increasing sales for the business and improving working performance of the business. Building may provide benefits to the business in the long run as it has useful life of more than one year.

Cash is also used to provide benefits to the business as it is used for various business purposes with the expectation to provide benefits to the business such as purchasing goods for resale purposes or for business use, paying liabilities, paying expenses, payments to employees, etc.,

Accounts Receivable may also provide benefits to the business as if goods sold or services performed to reliable and trusted customers by the company, then there is more chance that the customer will pay on tine after receiving unpaid invoices from the company. When the company successfully collected the payments from customers for goods sold or services rendered, it will increase the actual sales of the business and ultimately the business financial performance improved after receiving the amount due from customers.

The other options of this mcq are false as Accounts Payable, Unearned Revenue and Dividends are not assets. Accounts payable and unearned revenue are Current Liabilities while dividends is Contra Equity Account which is deducted from equity on balance sheet.