According to the AASBs Conceptual Framework an Asset Is

question 9

Multiple Choice

According to the AASBs Conceptual Framework an asset is:

• A)a contingent item depending on another event occurs at some time in the future
• B)a future benefits controlled by an entity as the result of a future transaction
• C)a future benefit controlled by an entity as the result of past transactions or events
• D)an item that has a physical existence and can be converted into cash.

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Definitions:

Secured Bond

A type of bond backed by the issuer's assets, providing a safeguard to bondholders by promising specific collateral in case of default.

Pass-through Bond

A type of security that pools investments and passes the income from these investments through to the investors.

Direct Transfers

The movement of funds or assets from one party directly to another without intermediaries.

Net Savers

Individuals or entities that save more money than they spend, contributing to their financial assets over time.