assets and its types

What is an example of an asset?

• Loan from the bank

• Building owned by a company

• Rent to be paid

• Supplier payments

Which of the following is an asset for a restaurant?

• A bank loan

• Amount owed to suppliers

• Rent to be paid

• Kitchen equipment

Which of the following is true about assets?

• Assets are liabilities that decrease in value over time.
• Assets are only physical items like buildings and machinery.
• Assets are resources with economic value owned by an individual or entity.
• Assets are expenses incurred by an individual or entity.

Which of these is an example of an asset for a business?

• A bank loan

• Accounts Payable
• A rent payment

• Cash

How can a business manage its assets?

• Regular assessment, inventory management, financial records, optimization, and maintenance.
• Reducing employee training programs
• Focusing solely on marketing
• Ignoring financial records

"A/An ________ is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise.”

• asset
• expense
• equity
• liability

Examples of assets include:

• bonds
• furniture
• vehicles
• Cash, real estate, stocks, equipment

what is the importance of assets in business

• Assets are only necessary for large corporations.
• Assets do not affect a company's cash flow.
• Assets are irrelevant to business strategy.
• Assets are important in business because they provide resources for operations, support growth, and ensure financial stability.

equipment, inventory, and property are

• liabilities
• financial assets

• intangible assets

• tangible assets

What is something you already own (positive cash value)

• Assets

• Liability

• debit

• credit