Multiple choice

Anything with value is owned is called?

  1. Equities

  2. Asset

  3. Liability

  4. Profit

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

An asset is a resource owned or controlled by a business that has economic value and provides future benefits. Examples include cash, inventory, equipment, buildings, and accounts receivable. Assets are the economic resources the business uses to operate.