Multiple Choice
A future economic benefit owned or controlled by an entity is:
A) A revenue.
B) An asset.
C) A liability.
D) A contra asset until used.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q9: The account titles to be responded to
Q40: Match the following statements with the best
Q48: The account titles to be responded to
Q82: Balance sheet accounts are referred to as
Q84: A sale on account would be recorded
Q96: The employees of Neat Clothes work Monday
Q97: When a tenant makes an end-of-period adjusting
Q98: Somerset Leasing received $12,000 for 24 months
Q104: Which of the following accounts has a
Q105: Silicon Chip Company's fiscal year-end is December