Assets are
A) always greater than liabilities
B) either cash or accounts receivables
C) the same as expenses because they are acquired with cash
D) financed by owners and/or creditors

Question

Quizplus · Accepted Answer

Assets can be financed by a combination of debt (creditors) and equity (owners), as they represent resources owned by a company with expected future economic benefits. Assets can include cash, accounts receivable, inventory, property, and equipment, among others. Assets do not necessarily have to be greater than liabilities, as it depends on the specific financial situation of the company. Expenses are different from assets, as they represent costs incurred by a company in order to generate revenues, and are not necessarily acquired with cash.

Assets Are