[amp_mcq option1=”loss” option2=”liability” option3=”drag” option4=”handicap” correct=”option1″]
The correct answer is: A. loss
An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation of economic benefit in the future from its use, sale, or conversion to cash.
A liability is a legal financial obligation that arises under contract, law, or equity. A liability is incurred when a party accepts responsibility for an obligation, or incurs a debt, or incurs a duty to pay.
A drag is a force that opposes the motion of an object through a fluid.
A handicap is a disadvantage or impediment.
In the context of the question, the managing director is saying that the secretary is a valuable member of the company. This is evident from the fact that the managing director uses the word “asset,” which is defined as “a resource with economic value that an individual, corporation, or country owns or controls with the expectation of economic benefit in the future from its use, sale, or conversion to cash.” The managing director could have used any number of other words to describe the secretary, but he chose to use the word “asset,” which suggests that he values the secretary’s contributions to the company.
The other options are not as appropriate in this context. A loss is a decrease in value, while a liability is a debt or obligation. A drag is a force that opposes motion, and a handicap is a disadvantage. None of these words accurately describes the secretary’s role in the company.