Ordinary Assets Quiz
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Questions and Answers

Which of the following is an ordinary asset?

  • Merchandise inventory on which the capital of the business is invested (correct)
  • Shares of stock in a private corporation held as investment
  • Land and building used as residence
  • Private car for sale by the owner

    • Which of the following is not an ordinary asset?

  • Land and building used as residence (correct)
  • Merchandise inventory on which the capital of the business is invested
  • Shares of stock in a private corporation held as investment
  • Private car for sale by the owner

    • Which of the following assets is considered an investment?

  • Shares of stock in a private corporation held as investment (correct)
  • Merchandise inventory on which the capital of the business is invested
  • Land and building used as residence
  • Private car for sale by the owner

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