Which term best matches the concept of money and other valuables owned by an individual or business?

Study for the Bachelor of Business and Economics (BBE) Entrance test. Focus on Math with flashcards and multiple choice questions, each accompanied by hints and explanations. Prepare effectively for your exam!

Multiple Choice

Which term best matches the concept of money and other valuables owned by an individual or business?

Explanation:
Money and other valuables owned by a person or business are called assets. Assets are resources with economic value that you control and expect to bring future benefits, such as cash, investments, inventory, equipment, or property. Denomination refers to the value of a currency unit, duration is the length of time, and derision means ridicule, so they don’t capture the idea of ownership of valuable resources. Assets best fit because they describe what you own that has value and can be used to produce economic benefits.

Money and other valuables owned by a person or business are called assets. Assets are resources with economic value that you control and expect to bring future benefits, such as cash, investments, inventory, equipment, or property. Denomination refers to the value of a currency unit, duration is the length of time, and derision means ridicule, so they don’t capture the idea of ownership of valuable resources. Assets best fit because they describe what you own that has value and can be used to produce economic benefits.

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