An Asset Is a Resource Controlled by an Entity as a Result

question 31

True/False

An asset is a resource controlled by an entity as a result of past events and from which future economic benefits are expected to flow to the entity.

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Definitions:

References Available Upon Request

A statement indicating that detailed information about one's professional references can be provided if the interested party asks for it.

Résumé

A résumé is a document that summarizes an individual's work experience, education, skills, and achievements, typically used for job applications.

Not-for-Profit Organization

An entity that operates for purposes other than generating profit, focusing instead on social, educational, or charitable aims.

Information

Data, facts, or details obtained through study, research, or instruction, which are used to increase knowledge or solve problems.