Heritage assets have characteristics that create doubt about whether or not they satisfy the definition of an asset.These characteristics include.
A) They are not expected to generate net economic benefits.
B) They never generate cash inflows.
C) They are unlikely ever to be sold.
D) They are not expected to generate net economic benefits and they are unlikely ever to be sold.
E) None of the given answers.

Question

Quizplus · Accepted Answer

Heritage assets are assets that have cultural or historical significance, such as museums, art collections, and historic buildings. They are different from other types of assets in that they are not expected to generate economic benefits and are unlikely ever to be sold. Option A and B are partially correct, but only option D captures both characteristics that create doubt about whether or not they are assets. Option C is incorrect since heritage assets may never be sold but still be considered assets.

Heritage Assets Have Characteristics That Create Doubt About Whether or Not