The correct answer is: B. Assets
An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit. Assets can be classified into tangible assets, intangible assets, financial assets, and real estate.
A tangible asset is a physical asset that can be seen and touched. Examples of tangible assets include land, buildings, equipment, and inventory.
An intangible asset is an asset that does not have physical substance. Examples of intangible assets include patents, trademarks, copyrights, and goodwill.
A financial asset is an asset that represents a claim on the future cash flows of another entity. Examples of financial assets include
stocks, bonds, and loans.Real estate is land and the improvements to it, such as buildings and structures.
A branch or division is a group of business units that are part of a larger company. Branches and divisions are often organized by geography, product line, or customer type.
Branches and divisions are typically treated as assets on a company’s balance sheet. This is because they have economic value and are expected to provide future benefit to the company.
Liabilities are debts that a company owes to its creditors. Examples of liabilities include accounts payable, notes payable, and long-term debt.
Income is money that a company earns from its business activities. Examples of income include sales revenue, service revenue, and investment income.
Expenditure is money that a company spends on its business activities. Examples of expenditure include cost of goods sold, selling, general, and administrative expenses, and research and development expenses.