Which one of the following statements is not true?
A) Intangible assets have no material substance.
B) Current assets are short term assets which are constantly changing in a constantly repeating trading cycle.
C) Control over economic resources is gained solely through ownership of those economic resources.
D) Liabilities are contractual or legal claims against an entity.

Question

Quizplus · Accepted Answer

Control over economic resources can be gained through means other than ownership, such as leasing or licensing agreements.

Which One of the Following Statements Is Not True