Resources owned by a business are known as ____________.
A)assets
B)returns and allowances
C)costs
D)debts

Question

Quizplus · Accepted Answer

Resources owned by a business are referred to as assets. This includes tangible assets like property, equipment, and inventory, as well as intangible assets like patents and trademarks. Returns and allowances refer to adjustments made to revenues, costs are what a business spends on goods and services, and debts refer to what a business owes to creditors.

Resources Owned by a Business Are Known as ____________