Which of the following statements about assets is NOT true?
A) Assets provide future economic benefits.
B) Assets are economic resources controlled by an organisation.
C) Assets result from past transactions or other events.
D) Assets are items which can be physically identified.

Question

Quizplus · Accepted Answer

Assets can be tangible or intangible, so not all assets can be physically identified.

Which of the Following Statements About Assets Is NOT True