When a Tool Is Complex and Difficult to Make,it Is

question 15

Multiple Choice

When a tool is complex and difficult to make,it is usually considered to be owned by:

• A)the whole village in which it is used.
• B)a single individual.
• C)the state.
• D)all those who touch it.
• E)all relatives.

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Definitions:

Assets

Economic resources owned or controlled by a business or individual that are expected to bring future benefits.

Liabilities

Financial obligations or debts a company owes to others that must be paid in the future.

Assets

Resources owned by a business or individual that have economic value.

FASB

The Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards in the United States.