A characteristic of an asset is
A) a resource controlled by an entity.
B) a future economic outflow.
C) an event that will happen in the future.
D) none of the above.

Name: A characteristic of an asset is A) a resource controlled by an entity. B) a future economic outflow. C) an event that will happen in the future. D) none of the above.
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Question

Quizplus · Accepted Answer

An asset is a resource controlled by an entity as a result of past events and from which future economic benefits are expected to flow to the entity.

A Characteristic of an Asset Is