An Asset Is

question 199

Multiple Choice

An asset is

• A)the amount of money originally invested in a business by its owners.
• B)the amount of money that owners would receive if they sold all a firm's assets and paid all of its liabilities.
• C)the profits earned by and reinvested in the company.
• D)any economic resource expected to benefit a firm or an individual who owns it.
• E)a debt owed by a firm to an outside organization or individual.

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Definitions:

Enterprise Resource Planning (ERP)

Commercial software systems that automate and integrate many or most of a firm's business processes.

Software Program

A collection of instructions that enable a computer to perform specific tasks, ranging from simple utilities to complex applications.

Software Elements

Components of software development, including requirements, design, coding, testing, and maintenance that together create functional software.

Finance

The management of large amounts of money, especially by governments or large companies, including activities such as investing, borrowing, lending, budgeting, and saving.