QUESTION $3$

$1$ points

Which of the following best defines assets?

The total amount of money a company earns in a fiscal year.

Resources the business owns such as buildings, equipment, or inventory.

The debts a company owes to its creditors.

The expertise and skills possessed by the employees of a company.

QUESTION $4$

$1$ points

Which of the following best defines liabilities?

The total amount of money a company earns in a fiscal year.

The financial resources invested by the owners of a business.

The obligations or debts that the entity owes.

The intangible assets, such as patents or copyrights, held by a company.