Which of the Following Is True of Assets

question 42

Multiple Choice

Which of the following is true of assets?

• A) Assets should be recognized only when it is probable that future economic benefits will flow to the enterprise.
• B) Assets should be recognized when it is probable that an outflow of resources will be required to settle them.
• C) Asset is defined as decrease in equity, other than from transactions with owners.
• D) A resource must be owned for it to be recognized an asset of the enterprise.

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Definitions:

Central Route

A method of persuasion that involves deeply processing the content of a message, focusing on the arguments and evidence.

Persuasion

The act of convincing someone to do or believe something through reasoning or argument.

Factors

Elements or conditions that contribute to producing results in various situations or studies.

Personal Attribution

The process of attributing one's own behaviors or the behaviors of others to personal characteristics or dispositions.