Asked by Abdullah Hantuli on Jun 19, 2024

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Resources owned by a corporation are referred to as

A) shareholders' equity.
B) liabilities.
C) assets.
D) revenues.

Resources

Assets or items of value owned by a company or individual, which can be used to produce goods, provide services, or generate income.

Corporation

A legal entity recognized by law that is separate from its owners, with the ability to own assets, incur liabilities, and sell shares to investors.

Assets

Resources owned or controlled by a business, expected to produce economic value or benefits in the future.

  • Identify the qualities and assessment of assets' valuation.
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Verified Answer

JA
James AchumbreJun 25, 2024
Final Answer :
C
Explanation :
Assets are the resources owned by a corporation, which can include cash, inventory, property, and equipment. These resources are used to operate the business and generate revenue.