An asset possesses which of the following? Options: A . &nbspFuture economic benefits for the business B . &nbspAll kinds of benefits for the business C . &nbspExpenses for the business D . &nbspMerits & Demerits for the business

An asset possesses which of the following?

Question

An asset possesses which of the following?

Options:

A . Future economic benefits for the business

B . All kinds of benefits for the business

C . Expenses for the business

D . Merits & Demerits for the business

Answer: Option A

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Next Question

Question 1. _______ is the gross inflow of economic benefits....

Question 2. Liabilities are which of the following?....

Question 3. An asset must be ________ by the business to be shown as an asset in its balance sheet.....

Question 4. Which is the most important characteristic that all assets of a business have?....

Question 5. What is the basic accounting equation?....

Question 6. Which of the following is a liability?....

Question 7. What is equity?....

Question 8. Identify the asset from the following....

Question 9. ______ is the withdrawal of cash and goods by the owner of the business for his/her personal use....

Question 10. Net loss occurs when....

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