As Jaime was packing to return to college after his summer vacation, he realized that he owned many valuable things such as a laptop computer, a speaker system, and a Blu-ray player. An accountant would list all of these as Jaime's
A) assets.
B) liabilities.
C) owners' equity.
D) intangibles.

Question

Quizplus · Accepted Answer

Assets refer to tangible or intangible resources the firm owns and uses in order to operate the business. This question refers to personal assets the student will use for school purposes and/or for recreation.

As Jaime Was Packing to Return to College After His