The key characteristic of an asset is that it represents a probable future economic benefit owned or controlled by an entity.

Name: The key characteristic of an asset is that it represents a probable future economic benefit owned or controlled by an entity.
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Quizplus · Accepted Answer

An asset is defined as a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

The Key Characteristic of an Asset Is That It Represents