Resources owned by a business are known as
A) debts
B) liabilities
C) assets
D) equity

Name: Resources owned by a business are known as A) debts B) liabilities C) assets D) equity
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Question

Quizplus · Accepted Answer

Resources owned by a business are assets, such as cash, inventory, property, and equipment. Debts and liabilities refer to amounts owed to others by the business, while equity represents the residual interest in the assets of the business after liabilities are deducted.

Resources Owned by a Business Are Known as