Homework answers / question archive / Which of the following characteristics must an economic resource have in order to be classified as an asset? the access to the asset must be under the control of the business entity O the resource was acquired as a result of a past transaction O the resource must have future service potential all of the above Question 5 2 pts A deficit is the deficiency when capital stock is issued for less than par negative retained earnings O appropriated retained earnings O an excess of liabilities over assets Question 6 2 pts Comprehensive income consists of net income + other adjustments to retained earnings O operating income other income and losses O net income + other comprehensive income O other comprehensive income + unrealized changes in the value of available for sale securities

Which of the following characteristics must an economic resource have in order to be classified as an asset? the access to the asset must be under the control of the business entity O the resource was acquired as a result of a past transaction O the resource must have future service potential all of the above Question 5 2 pts A deficit is the deficiency when capital stock is issued for less than par negative retained earnings O appropriated retained earnings O an excess of liabilities over assets Question 6 2 pts Comprehensive income consists of net income + other adjustments to retained earnings O operating income other income and losses O net income + other comprehensive income O other comprehensive income + unrealized changes in the value of available for sale securities

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Which of the following characteristics must an economic resource have in order to be classified as an asset? the access to the asset must be under the control of the business entity O the resource was acquired as a result of a past transaction O the resource must have future service potential all of the above Question 5 2 pts A deficit is the deficiency when capital stock is issued for less than par negative retained earnings O appropriated retained earnings O an excess of liabilities over assets Question 6 2 pts Comprehensive income consists of net income + other adjustments to retained earnings O operating income other income and losses O net income + other comprehensive income O other comprehensive income + unrealized changes in the value of available for sale securities