The assets which have some market value are called ____________?
Correct answer: D. Real assets
- A. Fixed asset
- B. Quick asset
- C. Fictitious assets
- D. Real assets
Explanation
An asset with an actual realizable or market value is a real asset. Fictitious assets are deferred or write-off balances with no physical or realizable value.
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About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
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