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

Question

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

Quizplus · Accepted Answer

Assets can be tangible (such as property, equipment, and inventory) or intangible (such as patents, copyrights, and trademarks). Ownership of assets is typically held solely by the owners of the business. Assets are acquired by a business in order to provide future economic benefits such as revenue, cost savings, or increased value. Therefore, all of the answer choices are correct.

Which of the Following Statements Is True About Assets