Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events are
A)assets.
B)investments by owners.
C)revenues.
D)gains.

Question

Quizplus · Accepted Answer

Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events are assets. This definition corresponds to the concept of assets in accounting, which are resources owned by a company that have future economic value.

Probable Future Economic Benefits Obtained or Controlled by a Particular