Which of the following statements is true about assets?
A) They are the properties or economic resources owned by the business.
B) They are available to provide future benefits to the business.
C) They can be intangible rights.
D) Ownership is shared between creditors and owners.
E) All of these

Question

Quizplus · Accepted Answer

All of these statements are true about assets. They are properties or economic resources owned by the business, available to provide future benefits to the business, and can be intangible rights. In addition, ownership of assets is shared between creditors and owners (as liabilities must also be considered).

Which of the Following Statements Is True About Assets