Question

Assets refer to:
a. a firm's productive resources.b. the statement of a firm's financial position at one point in time, including its assets and the claims on those assets by creditors (liabilities) and owners (stockholders' equity).c. the net amount (net book value) for something shown in accounting statements.d. the extent to which something can be sold for cash quickly and easily without loss of value.e. none of the above

Answer 1

Answer:

The correct answer is letter "A": a firm's productive resources.

Explanation:

An Asset is a resource with an economic value. Individuals, corporations and countries expect the assets they own to provide economic benefits now and in the future. Assets can be tangible -such as equipment and land- or intangible, including things like a brand, a chemical formula, and property rights.