An Asset Is

question 26

Multiple Choice

An asset is

• A)the same thing as a liability.
• B)a thing of value that can be owned.
• C)money, as opposed to stock or bonds.
• D)anything that never declines in value.

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Definitions:

Investing Activities

Financial transactions involving the purchase or sale of long-term assets and investments, a component of cash flow statements.

Operating Activities

Operating activities are the day-to-day functions of a business related to producing and selling its goods or services, which are reflected in its earnings.

Noncash Financing

Financing activities that do not involve cash flows, such as issuing stock for assets or converting debt to equity.

Investing Activities

Financial transactions related to the acquisition or sale of long-term assets and investments not related to the entity's primary business operations.