What term refers to resources owned by a business that are measured in monetary terms?

The term that refers to resources owned by a business that are measured in monetary terms is assets. Assets represent the valuable items that a company possesses, which can include cash, inventory, buildings, equipment, and other tangible or intangible resources. These resources are recognized on the balance sheet and are crucial for the operation and growth of the business, as they can be utilized to generate revenue and are essential for running day-to-day operations.

Understanding assets is fundamental in accounting and finance because they form the basis of the company’s financial position. A business's ability to manage and optimize its assets can directly impact its profitability and overall financial health.