Question

Quincy listed his assets and liabilities. cash rent stocks jewelry student loan utilities which are quincy’s assets? select three choices. cash rent stocks jewelry student loan

Answer 1

Answer:

Quincy's assets are cash, jewelry, and stocks as they are the properties that she can sell when she is in need of funds while student loan and utilities are her liabilities.

What are Assets?

The monetary resources that provide benefits in the upcoming years are called Assets. It can be acquired for a shorter term, known as current assets, or for a longer term known as non-current assets.

Analysis of assets and liabilities as follows:

1. Cash is a current asset that is used to acquire all the fixed assets.
2. Jewelry and stocks are assets that can be exchanged for cash by disposing of them.
3. A student loan is a non-current liability as it has to be paid by her after a period of more than a year.
4. Utilities are a current liability as it has to be reimbursed by her within a period of one year.

Therefore, the cash, stocks, and jewelry are considered to be the assets of Quincy out of the provided assets and liabilities,

Learn more about the assets and the liabilities here;

brainly.com/question/3004501

Answer 2

The three choices that are declared as Quincy's assets are cash, stocks, and jewelry.

What are assets?

Assets are items or properties that you own, and that is valuable to you. Liabilities are things that you have to pay for as a result of you using something.

So, having that in mind, Quincy's liabilities are rent, student loans, and utilities, whereas his assets are cash, stocks, and jewelry.

He gets cash when he finishes his work, he gets money from stocks, and he has the jewelry that he either bought or got as a gift that he can sell for money.

To learn more about Quincy's assets, refer below

brainly.com/question/3004501