Select the statement that is not true regarding Assets.

A) Asset accounts include but are not limited to: cash,accounts receivable,inventory,and fixed assets.
B) Assets provide a future benefit to the company.
C) Assets are amounts a company owes to others.
D) Assets are resources a company owns.

Asset Accounts

Accounts that represent the resources owned by a business, which are expected to provide future benefits.

Accounts Receivable

Financial obligations of clients or customers to a company for received goods or services that have yet to be settled.

Fixed Assets

Fixed assets are long-term tangible assets that a company owns and uses in its operations to generate income, such as buildings, machinery, and equipment.