Question 1
Which of the following is an example of a fixed asset?
◦ Transportation equipment
◦ Money-market funds
◦ Cash
◦ Accounts receivable
◦ Short-term investments
Question 2
Which of the following is classified as a general expense?
◦ Promotional expenses
◦ Commissions paid to salespeople
◦ Legal fees
◦ Advertising costs
◦ Depreciation costs of showroom