Of the following, which istrue about assets?
A) Assets include physical items and intangibles that have value.
B) Assets include only physical items of value.
C) Assets are owned solely by the stockholders of the company.
D) Assets are the result of selling products or services to customers.

Question

Quizplus · Accepted Answer

Assets include both physical items, such as equipment and inventory, and intangible items, such as patents and trademarks, that have value and are owned by the company. Ownership of assets is not limited to stockholders and assets are not solely the result of selling products or services.

Of the Following, Which Istrue About Assets