Answered

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Question 2: Assets represent amounts owed to entities outside of the business.

A. True
B. False

Sagot :

GinnyAnsweridn

Final answer:

Assets are resources that hold value for a business and are crucial in assessing financial health.


Explanation:

Assets represent the resources a company owns that have value and can be used to meet its financial obligations. These can include cash, investments, accounts receivables, and other tangible or intangible items of value. In accounting, the equation Total Assets = Total Liabilities + Total Equity must always hold true.


Learn more about Assets in Business here:

https://brainly.com/question/29806447


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