Which of the Following Statements Is True About Assets

question 185

Multiple Choice

Which of the following statements is true about assets?

• A) They are the properties or economic resources owned by the business.
• B) They are available to provide future benefits to the business.
• C) They can be intangible rights.
• D) Ownership is shared between creditors and owners.
• E) All of these

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Definitions:

Means-Tested

Refers to a method of determining eligibility for government assistance based on the income and assets of an applicant, ensuring aid only goes to those in financial need.

Dependent Children

Minors who rely on adults, usually their parents, for financial support and caregiving.

Temporary Assistance

Short-term aid provided to individuals or groups, often in the form of financial support or government benefits.

Economic Insecurity

The condition of having unstable income or employment, making it difficult to predict or plan for financial stability.