Definition of Financial Assets

A

The answer to this question is A. Assets.

An asset is a resource owned or controlled by an entity that is expected to provide future economic benefits. According to the definition of an asset given by Marshall, assets are probable future economic benefits that are obtained or controlled by an entity as a result of past transactions or events.

Assets can take many forms, such as cash, investments, property, equipment, and accounts receivable. They are typically classified on a company's balance sheet as either current or noncurrent assets based on their expected time horizon of use. Current assets are those expected to be converted into cash or used within one year, while noncurrent assets are those expected to provide economic benefits beyond one year.

Liabilities, on the other hand, are obligations or debts owed by an entity to others. They are not considered probable future economic benefits obtained or controlled by the entity. Examples of liabilities include accounts payable, loans, and accrued expenses.

Credentials are not related to accounting or finance concepts. Credentials are qualifications or achievements that demonstrate a person's skills, knowledge, or expertise in a particular field. They are often earned through education or experience and can be used to validate a person's competence.

In summary, the answer to this question is A. Assets, which are probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.