Asked by
Revital Bitton
on Nov 12, 2024
Verified
Which of the following is true about assets?
A) Assets include both physical and intangible items.
B) Assets include only physical items.
C) Assets are the personal property of the owner of the company.
D) Assets are the result of selling products or services to customers.
Intangible Items
Assets that do not have a physical form yet are valuable because of the advantages or rights they confer to a business, like patents or trademarks.
Physical Items
Tangible objects or goods that can be seen, touched, and measured.
- Pinpoint and systematize diverse kinds of accounts (assets, liabilities, owner's equity, expenses, revenues).
Verified Answer
GP
Learning Objectives
- Pinpoint and systematize diverse kinds of accounts (assets, liabilities, owner's equity, expenses, revenues).