In the context of financial accounting, which of the following is not a characteristic of an asset? A. A resource owned by a business entity B. A resource controlled by a business entity C. A resource expected to generate future economic benefits to a business entity D. A resource arising from a past transaction of a business entity Company 2 has the following assets and liabilities at the end of 30 September 2018 and 2019. Suppose there were no movement on the share capital and Company 2 paid $13,250 as dividend to its shareholders in 20X9. What is the profit for 20X9 ? A. $111,570 B. $53,920 C. $40,670 D. $27,420 An expense accrual if accounted for would have the following effect on the Income Statement