The Accounts Which Represent the Resources of the Company Are

question 72

Multiple Choice

The accounts which represent the resources of the company are called:

• A) Liabilities.
• B) Revenues.
• C) Expenses.
• D) Assets.

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Definitions:

Accounts Balances

The total amounts present in financial accounts, reflecting credits minus debits at a specific point in time.

Trial Balance

A worksheet for accounting purposes that gathers all ledger account balances into credit and debit columns to confirm that a company's financial records are mathematically precise.

Assets

Resources owned or controlled by a business, expected to bring future economic benefits.

Capital

It refers to financial assets or the financial value of assets, such as funds held in deposit accounts and/or funds obtained from special financing sources.