Final answer:
The values of the various items a corporation owns are referred to as assets on the balance sheet. Option D is correct.
Step-by-step explanation:
Assets encompass all tangible and intangible items of value owned by a corporation. These include cash, property, equipment, investments, and accounts receivable. They are categorized into current assets, like cash or inventory, and long-term assets, such as buildings or intellectual property. Assets represent the economic resources controlled by the company, capable of providing future benefits or returns.
Liabilities, on the other hand, represent the company's obligations, like debts and payables. Budgets and savings are financial management terms but are not specific to the values a corporation owns.
Assets are crucial as they reflect the company's financial health and its ability to meet obligations, invest in growth, and generate returns for stakeholders. Understanding and managing these assets are fundamental in assessing a company's performance and making informed business decisions.
The correct answer is D. assets.