"A resource under the control of an entity arising from past events from which future economic benefits are expected to flow in to the entity" refers to which one of the following:
A) Asset. B) Income. C) Liability. D) Expense

Asset is defined as a resource that has an economic value which is owned and controlled by an individual or an organisation. It's clearly known that such resource has potentials of future benefit.

We can actually see here that the resource under the control of an entity arising from past events from which future economic benefits are expected to flow in to the entity is referring to asset.

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"A resource under the control of an entity arising from past events from which future economic benefits are expected to flow in to the entity" refers to which one of the following: A) Asset. B) Income. C) Liability. D) Expense

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What is asset?

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"A resource under the control of an entity arising from past events from which future economic benefits are expected to flow in to the entity" refers to which one of the following:
A) Asset. B) Income. C) Liability. D) Expense