An Asset Is

question 203

Multiple Choice

An asset is

• A)anything of value owned by a person or a firm.
• B)a payment by a corporation to its shareholders.
• C)a nonmonetary opportunity cost.
• D)anything owed by a person or a firm.

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Definitions:

Levied

Imposed, typically referring to taxes, duties, or charges officially imposed by a government authority.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to provide, holding other factors constant.

Demand Curve

A curve that illustrates the quantity of a product that consumers are willing and able to purchase at various prices, showing the inverse relationship between price and quantity demanded.

Levied

Imposed or collected, usually referring to taxes, duties, or other charges by an authority.