The definition of an asset excludes
A)expected benefits related to rights under executory contracts.
B)mere exchanges of promises.
C)contingent assets.
D)all of the above.
E)none of the above.

Question

Quizplus · Accepted Answer

All the options mentioned in A, B, and C are excluded from the definition of an asset according to accounting standards. Therefore, option D is the correct answer. Option E is not the correct answer as it implies that none of the options are excluded, which is not correct.

The Definition of an Asset Excludes