Identify the Missing Word in the Following Sentence

question 10

Multiple Choice

Identify the missing word in the following sentence. A change is defined as the addition, modification, or removal of anything that could have a direct or indirect effect on [?].

• A) assets
• B) values
• C) elements
• D) services

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Definitions:

Balance Sheet

An accounting document that lists a business's assets, liabilities, and the equity of its shareholders at a specific date.

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its net assets, representing the company's reputation, customer relationships, and other unquantifiable factors.

Internally Generated

Assets or resources that are created within an organization, without acquiring them from external sources.

Gain On Sale

The profit received from selling a capital asset for more than its purchase price.