An asset possesses which of the following?

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

Correct Answer: Future economic benefits for the business

An asset possesses future economic benefits for the business. An asset is a resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide a future benefit.
Bissoy MCQ
#Commerce #Accounting

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In a recent year, Windsor's Boat's reported an asset turnover ratio of 2.46 times and a profit margin of 19.8% . In the same year, Sarah's Sail Boats reported an asset turnover ratio of 1.27 times and a profit margin of 9.9% . Which of the following statements is false ?
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