Which of the Following Is True of Assets

question 110

Multiple Choice

Which of the following is true of assets?

• A)Assets include cash,merchandise inventory,and accounts payable.
• B)Assets are something of value the business owns or controls.
• C)Assets do not need to provide future benefit to the business.
• D)Assets can be recorded at the expected cost if acquired at a bargain.

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Definitions:

Cognitive Bias

An organized tendency to deviate from normal or logical thinking in making judgments, leading to conclusions about people and situations that are drawn illogically.

Balanced Scorecard Framework

A strategic planning and management system used to align business activities with the vision and strategy of the organization, improve internal and external communications, and monitor organizational performance.

Strategic Initiatives

Long-term plans or actions taken by a business to achieve its goals and improve its competitive position.

CSR Efforts

Initiatives taken by a company to assess and take responsibility for its effects on environmental and social well-being, often going beyond compliance and engaging in actions that further social good.