A financial asset is:
A) Cash.
B) A contractual right to exchange financial assets and financial liabilities with another entity under conditions that are potentially favourable to the entity.
C) A contractual right to exchange financial assets and financial liabilities with another entity under conditions that are potentially unfavourable to the entity.
D) Cash and a contractual right to exchange financial assets and financial liabilities with another entity under conditions that are potentially favourable to the entity.
E) Cash and a contractual right to exchange financial assets and financial liabilities with another entity under conditions that are potentially unfavourable to the entity.

Question

Quizplus · Accepted Answer

A financial asset includes cash and a contractual right to exchange financial assets and liabilities under potentially favourable conditions.

A Financial Asset Is