An Asset is:
A)only acquired with cash
B)something the company owns
C)only contributed by stockholders
D)a company's obligation to pay
E)is also called contributed capital

Question

Quizplus · Accepted Answer

An asset is something the company owns, such as property, equipment, inventory, and investments. It does not necessarily need to be acquired with cash, as it can be obtained through a variety of means such as loans or trade-in transactions. Contributed capital is a type of equity, not an asset, and a company's obligation to pay would be a liability.

An Asset Is