Characteristics Are Properties of People or Things

question 71

True/False

Characteristics are properties of people or things.

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Definitions:

Equipment

Tangible property used in the operations of a business not intended for sale, including machinery, computers, and furniture.

Cash

A form of currency that includes coins and paper bills.

Capital

The wealth in the form of money or other assets owned by a person or organization or available for purposes such as starting a company or investing.

Fair Value

Fair Value is the estimated market value of an asset or liability, reflecting the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.