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Select the spending item(s) that are assets.You can select more than one answer.A.CarB.RentC.Insurance billD.Dinner outE.DeskF.Petrol

Question

Select the spending item(s) that are assets.You can select more than one answer.A.CarB.RentC.Insurance billD.Dinner outE.DeskF.Petrol

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Solution

The spending items that are assets are:

A. Car E. Desk

Here's why:

  1. A car (A) is considered an asset because it has value and can be sold for cash.

  2. A desk (E) is also an asset because it is a piece of furniture that holds value.

  3. Rent (B) is not an asset because it is a recurring expense and does not contribute to your net worth.

  4. An insurance bill (C) is also not an asset because it is a payment for a service, not something you own.

  5. Dinner out (D) is not an asset because it is an expense, not something that holds value.

  6. Petrol (F) is not an asset because it is a consumable item, used up when you drive your car, and does not hold any value once used.

This problem has been solved

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