The economic resources of a company resulting from past transactions are called ________.
A)assets
B)revenues
C)retained earnings
D)contributed capital

Question

Quizplus · Accepted Answer

Assets are economic resources of a company resulting from past transactions, such as cash, inventory, property, and equipment. Revenues are the amounts earned by a company from sales or other operating activities. Retained earnings are a portion of a company's profits that are kept or reinvested in the business, rather than being distributed to shareholders as dividends. Contributed capital refers to the funds raised by a company from investors in exchange for ownership shares.

The Economic Resources of a Company Resulting from Past Transactions