Which of the following terms refers to any economic resource that is expected to benefit a firm or individual who owns it?
A) Asset
B) Liability
C) Equity
D) Account
E) Deposit

Question

Quizplus · Accepted Answer

An asset is any economic resource that is expected to benefit a firm or individual who owns it. Assets can be tangible, like property or equipment, or intangible, like patents or trademarks. Liabilities are debts owed by a company or individual, equity represents ownership in a company, an account is a record of financial transactions, and a deposit is a sum of money paid into a bank account.

Which of the Following Terms Refers to Any Economic Resource