Assets Are

question 26

Multiple Choice

Assets are

• A) always lower than liabilities
• B) equal to liabilities less owner's equity
• C) the same as expenses because they are acquired with cash
• D) financed by the owner and/or creditors

---

Definitions:

Minimum-Wage Acts

Laws that establish the lowest hourly wage that can legally be paid to workers.

Remuneration

Compensation or payment received for employment or services provided, including salary, wages, bonuses, and benefits.

Annual Salary

The total amount of money earned by an employee in a year from their job before deductions.

Organization

A structured group of people working together towards shared goals, characterized by defined roles, responsibilities, and processes.