Questions: Multiple Select Question Select all that apply Given the following list of accounts, identify which are classified as assets. Select all that apply. Accounts Receivable Land Building Wages Payable Supplies Cash Owner's Capital Owner's Withdrawals

The accounts classified as assets are:

• Accounts Receivable
• Land
• Building
• Supplies
• Cash

Explanation:

1. Accounts Receivable: This is considered an asset because it represents money owed to the company by customers for goods or services already delivered.

2. Land: This is a tangible asset that the company owns and can use for operations or investment purposes.

3. Building: Similar to land, a building is a tangible asset that the company owns and uses for its operations.

4. Supplies: These are considered current assets because they are items that the company uses in its operations and are expected to be consumed within a year.

5. Cash: This is the most liquid asset, representing the money the company has on hand or in bank accounts.

The other accounts listed are not classified as assets:

• Wages Payable: This is a liability, as it represents money the company owes to its employees.

• Owner's Capital: This is an equity account, representing the owner's investment in the business.

• Owner's Withdrawals: This is also an equity account, representing the money the owner has taken out of the business.