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Owns taxi (automobile) worth 1,315.. A. asset B. liability C. Both D. Neither

Owns taxi (automobile) worth 1,315.. A. asset B. liability C. Both D. Neither
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Owns taxi (automobile) worth 1,315.. A. asset B. liability C. Both D. Neither

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User Omari Victor Omosa
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1 Answer

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A. Asset - An asset is anything of value owned by a person or a business. Owning means that there is no debt. Liability would be only if there was a debt owing in the taxi, the person is liable (responsible) for the debt.
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User Catalesia
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