"Economic resources" are known as
A)assets.
B)liabilities and stockholders' equity.
C)owners' equity and stockholders' equity.
D)retained earnings and revenues.

Question

Quizplus · Accepted Answer

Economic resources are assets, which are tangible or intangible items that have value and can be used to generate future economic benefits. Liabilities and stockholders' equity are sources of financing, while owners' equity and retained earnings are components of stockholders' equity, which represent the owners' claim on the assets of the company. Revenues are not economic resources, but instead represent the inflows of economic benefits resulting from the sale of goods or services.

"Economic Resources" Are Known as