Of the following, which is true about assets?
A) Assets include both physical and intangible items.
B) Assets include only physical items.
C) Assets are the personal property of the stockholders of the company.
D) Assets are not increased as a result of selling products or services to customers.

Question

Quizplus · Accepted Answer

Assets include both physical items, such as buildings and equipment, and intangible items, such as patents and copyrights. They are not limited to only physical items. Additionally, assets are not the personal property of stockholders, but rather the property of the company itself. Finally, selling products or services can increase a company's assets by bringing in revenue.

Of the Following, Which Is True About Assets