Which of the following is a tangible object that can be used to generate future income?
I. a financial asset
II. a physical asset
III. a liability

Question

Quizplus · Accepted Answer

A physical asset is a tangible object such as property, equipment, or inventory that can be used to generate future income. Financial assets such as stocks, bonds, and currencies are not physical objects, and liabilities such as debt and obligations represent outgoing cash flows rather than incoming.

Which of the Following Is a Tangible Object That Can