Home › CBSE Class 11 (Commerce) › Accountancy › Introduction to Accounting › Economic resources of an enterprise expressible …
Economic resources of an enterprise expressible in money are called
ALiabilities
BAssets
CExpenses
DDrawings
Answer & Solution
Correct answer: B. Assets
Assets are items of value used by the business in its operations.
Related questions
A trader sells stationery worth Rs 1,00,000 on credit to Mr. Ravi. Mr. Ravi is aMr. Sunrise starts with Rs 5,00,000, buys stationery worth Rs 1,50,000 from Mr. Peace on cSundry creditors are shown in the balance sheet on thePersons who owe the firm money for goods bought on credit areClosing stock of a manufacturing company comprises raw materials, finished goods andUnsold goods lying with a trader at the end of the period are calledTotal goods procured for use or sale, on cash and credit, are calledWithdrawal of cash or goods by the owner for personal use is