Which of the Following Is TRUE of Assets

question 207

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 market value if acquired at a bargain.

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Definitions:

Marketing Manager

A professional responsible for leading and guiding the strategies that promote and sell products or services to target consumers.

Production Manager

An individual responsible for the planning, coordination, and control of manufacturing processes, ensuring goods are produced efficiently, at the right cost, and level of quality.

Principles of Management

Fundamental guidelines for managing organizations, including planning, organizing, leading, and controlling.

Not-for-profit Organizations

Organizations that operate for purposes other than making a profit, focusing instead on charity, education, social issues, or community service.