Items owned by a business and have a monetary value; either fixed (owned and not intended for resale within the next 12 months) or current (owned and expected to be used up within the next 12 months)

• A. Cash
• B. Assets
• C. Cash Flow
• D. Sources of Finance

Answer: (B)

Assets are resources owned by the business that have monetary value and are expected to bring future economic benefits. The description fits assets because it includes items owned, split into fixed assets (owned and not intended for resale within a year) and current assets (expected to be used up or converted within a year). This covers both tangible things like buildings or machinery and liquid items like cash or stock. Other terms like cash flow describe movements of cash, and sources of finance refer to ways to raise funds, not the category of owned resources. Cash itself is a type of asset, but the statement is defining the broad category that includes all such owned resources, which is assets.