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Which is a characteristic of an asset

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Reference no: EM132739369

Problem 1: When a business receives payment before delivering goods, the revenue account is

a. debited

b. debited and credited

c. credited

d. not affected

Problem 2: Which of the following is a characteristic of an asset?

a. The claims to an asset's benefits are legally enforceable

b. an asset is tangible

c. an asset is obtained at a cost

d. an asset provides future benefits

Reference no: EM132739369

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