Anything of value owned by a person or a firm is

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An asset is anything of value that is owned by an individual or a firm. This can include physical items like property or inventory, financial resources like cash or investments, and intangible assets like intellectual property. Liabilities, on the other hand, are debts or obligations owed by an individual or a firm. Entitlements are a form of government benefits or payments that individuals may be entitled to based on certain criteria. Durable goods are physical items that are expected to last a significant amount of time. Therefore, the best choice is A) an asset because it accurately defines something of value owned by a person or firm.

Anything of Value Owned by a Person or a Firm