EXERCISE 4–1 Which of the following items are classified as assets on a typical balance sheet?

a. Depreciation.

b. CEO salary.

c. Cash.

d. Deferred income taxes.

e. Installment receivable (collectible in 3 years).

f. Capital withdrawal (dividend).
g. Inventories.
h. Prepaid expenses.
i. Deferred charges.
j. Work-in-process inventory.
k. Depreciation expense.
l. Bad debts expense.
m. Loan to officers.
n. Loan from officers.
o. Fully trained sales force.
p. Common stock of a subsidiary.
q. Trade name purchased.
r. Internally developed goodwill.
s. Franchise agreements obtained at no cost.
t. Internally developed e-commerce system.