Which of the following is correct when speaking about a business's assets?
A) Assets are things of value owned.
B) Assets must always equal Liabilities.
C) Assets are shown at their current value.
D) Assets are disclosed on the Income Statement.

Question

Quizplus · Accepted Answer

Assets are items of value that are owned by a business. They can include tangible assets such as buildings, equipment, and inventory, as well as intangible assets like patents, trademarks, and goodwill.

Which of the Following Is Correct When Speaking About a Business's