What are assets in a company?

Assets in a company refer to resources that are owned and have economic value, which can be utilized to generate revenue. These can include tangible items such as buildings, machinery, and inventory, as well as intangible assets like patents and trademarks. The ownership of these resources indicates the potential for future benefits to the company, as they can be leveraged in operations or sold to generate income.

Other options represent different financial concepts: debts owed to creditors represent liabilities, projected future income refers to expected revenue or profit but does not constitute an asset in the current accounting sense, and expenses incurred by the company are costs that have already been recognized and do not represent owned resources. Thus, identifying assets as resources owned by the company highlights their role as key components in maintaining and enhancing a company's operational capabilities and financial health.