Question

The economic resources of a business such as furniture, building, and land are its ________?

1) Assets
2) Liabilities
3) Equity
4) Expenses

Answer 1

The economic resources of a business, like furniture, building, and land, are called its assets. These are valuable items a business owns or controls and are important for its financial health.

Step-by-step explanation:

The economic resources of a business, such as furniture, building, and land, are its assets. These are items of value that a business owns or controls with the expectation that it will provide future benefit. Assets are a crucial part of a company's financial health and can be tangible, as in the case of real estate and office equipment, or intangible, such as patents and trademarks. In a market economy, the ownership of these assets can generate various forms of income for individuals and businesses, such as wages from labor, rent from real estate, or interest and dividends from financial assets.