List/Grid Tag Archives: Business assets

accounting asset

What are Assets and Liabilities?

An asset can be defined as something which carries some value which can be converted in the form of cash.  Assets are usually owned by either a single person or an entire company. Governments too own assets in different forms. Assets are used to generate profitable revenue and are beneficial in some way or the other.  Assets are generally of two types which are personal assets and business assets. In simple words, assets are basically anything and everything which can be tangible or intangible and which are owned or sometimes controlled ...
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