Questions: The accounts that represent the resources of the company are called: Multiple Choice Expenses. Liabilities. Assets. Revenues

The accounts that represent the resources of the company are called: Multiple Choice Expenses. Liabilities. Assets. Revenues
Transcript text: The accounts that represent the resources of the company are called: Multiple Choice Expenses. Liabilities. Assets. Revenues
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Solution

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Answer

The answer is Assets.

Explanation
Option 1: Expenses

Expenses are the costs incurred by a company in the process of earning revenue. They are not resources but rather outflows of resources.

Option 2: Liabilities

Liabilities represent the obligations or debts that a company owes to external parties. They are not resources but rather claims against the company's resources.

Option 3: Assets

Assets are the resources owned by a company that are expected to provide future economic benefits. Examples include cash, inventory, property, and equipment.

Option 4: Revenues

Revenues are the income generated from normal business operations, such as sales of goods or services. They are not resources but rather the result of utilizing resources.

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