What question did this study set out to answer?

To analyze and propose a revised definition of assets within accounting theory that distinguishes them from expenses.

The Concept of Assets in Accounting Theory.

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Proposes a new definition of assets as property rights to enhance clarity in accounting practices.

To analyze and propose a revised definition of assets within accounting theory that distinguishes them from expenses.
Evaluated the FASB's current definition of assets and its implications.
Proposed defining assets as property rights associated with resources.
Discussed the impact of the proposed classification on financial statements under GAAP.
Identified confusion between assets and expenses in current definitions.
Proposed that many deferred costs should be charged as expenses immediately.
Suggested that redefining assets could improve financial statement relevance and comparability.

Richard A. Samuelson (1996) studied this question.

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