Accounting for IGCSE & O level - Final Statements (Section 7 - No. 16)
In accounting, what does the term 'assets' represent?
Amounts the company owes.
The owners' investment in the company.
Resources controlled by the company.
The company's expenses.
Explicaţie
Assets are resources controlled by a company as a result of past events and from which future economic benefits are expected to flow to the company.