__________ are things a firm owns.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. Assets
- Assets are things that a firm owns.
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A company must have the right to an asset as of the date of its financial statements for it to be considered an asset.
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It can be categorised in:- Intangible assets, Fixed assets, Current assets, Financial Investments.