Assets - What do you mean by assets?

Q: What do you mean by assets?

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit. Assets are reported on a company's balance sheet and are bought or created to increase a firm's value or benefit the firm's operations.

Answer

Any resource that a person, business, or nation owns or controls and hopes to use in the future is considered an asset. Acquired or developed with the purpose of enhancing the value of the business or its activities, assets are recorded on the balance sheet of a corporation.

Assets - What do you mean by assets?

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