A(n) ________ is any economic resource expected to benefit a firm or the individual who owns it.
A) owners' equity
B) asset
C) debit
D) liability
E) credit

Question

Quizplus · Accepted Answer

An asset is any economic resource that is expected to benefit a firm or the individual who owns it. This can include things like cash, property, equipment, or investments. Owners' equity refers to the ownership interest in a business, while debit and credit refer to accounting entries that track financial transactions. Liability refers to an obligation or debt owed by a firm or individual.

A(n) ________ Is Any Economic Resource Expected to Benefit a Firm