_____ are valuable things owned by the firm.
A) Prepaid expenses
B) Owners' equities
C) Liabilities
D) Assets

Name: _____ are valuable things owned by the firm. A) Prepaid expenses B) Owners' equities C) Liabilities D) Assets
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Question

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Assets are valuable things owned by the firm. Prepaid expenses are expenses paid in advance and are not considered valuable assets. Owners' equities represent the residual interest in the assets after liabilities are deducted, and liabilities are obligations owed by the firm.

_____ Are Valuable Things Owned by the Firm