An asset is
A) the amount of money originally invested in a business by its owners.
B) the amount of money that owners would receive if they sold all of a firm's assets and paid all of its liabilities.
C) the profits earned by and reinvested in the company.
D) any economic resource expected to benefit a firm or an individual who owns it.
E) a debt owed by a firm to an outside organization or individual.

Question

Quizplus · Accepted Answer

An asset is any economic resource that is expected to benefit a firm or an individual who owns it. It could be tangible, like property or equipment, or intangible, like patents or goodwill. Options A, B, C, and E are incorrect because they do not fully capture the concept of an asset.

An Asset Is