Which of the following best defines an asset?

An asset is best defined as resources acquired by businesses that are consumed or utilized to generate economic benefits. This definition encompasses a wide range of tangible and intangible resources, such as cash, inventory, real estate, equipment, and intellectual property. Assets are essential for a business's operation and growth, as they are the means through which companies can produce goods or services and potentially generate revenue.

While the other options relate to various aspects of a business's finances, they do not accurately capture the essence of what constitutes an asset. Debts refer to liabilities, which are obligations that a business must pay in the future, rather than resources owned by the business. The option discussing the purchase of goods or services over time implies a transaction process but does not define what an asset is. Lastly, subtracting liabilities from assets leads to the concept of equity rather than providing a clear definition of an asset itself. Thus, option B accurately describes assets in the context of business finance.