Things that a firm owns that are worth something are classified as
A) liabilities.
B) assets.
C) deposits.
D) net worth.

Question

Quizplus · Accepted Answer

Assets are the things that a firm owns that are worth something, such as property, equipment, inventory, and cash. Liabilities, on the other hand, are what a firm owes to others, such as loans, accounts payable, and taxes. Deposits and net worth are related financial concepts but are not the appropriate classification for a firm's assets.

Things That a Firm Owns That Are Worth Something Are