Assets account involves ________. • An asset is a resource that is ow
A. Bad debts recovered
B. Wages paid.
Right Answer is: D
• An asset is a resource that is owned or controlled by a firm which can be used to provide a future economic benefit.
• Assets account is a general ledger account that is used to sort and store the debit and credit amounts from a company’s transactions involving the company’s resources.
• It contains different types of assets i.e. Current assets, Inventory, Fixed assets, Intangible assets.