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what is an assets?
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Answer / deepak kumar sharma
Any item of economic value owned by an individual or
corporation, especially that which could be converted to
cash. Examples are cash, securities, accounts receivable,
inventory, office equipment, real estate, a car, and other
property.
A balance sheet item representing what a firm owns.
On a balance sheet, assets are equal to the sum of
liabilities, common stock, preferred stock, and retained
earnings. From an accounting perspective, assets are
divided into the following categories: current assets (cash
and other liquid items), long-term assets (real estate,
plant, equipment), prepaid and deferred assets
(expenditures for future costs such as insurance, rent,
interest), and intangible assets (trademarks, patents,
copyrights, goodwill).
| Is This Answer Correct ? | 12 Yes | 0 No |
Answer / pvinay0910
Assets refers to any property or things owned by a business
concerning including amounts due to it from others.
Ex- land & buildings, machinery.
pvinay0910@gmail.com
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / manish
assets is thing which is use in business for long term
| Is This Answer Correct ? | 2 Yes | 0 No |
My dear to answer simply , Assets represent ownership of
value that can be converted into cash To know more about
the subjectand new things pl visit my favorite site
http://www.therealaccountants.com
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / chandu
asset is an expenditure, which gives long term benfit to
the business.
any expenditure which gives benfit to the business more
than one financial year is called assest.
| Is This Answer Correct ? | 5 Yes | 5 No |
Answer / prasanna
Assets means the company owned something.. Like goods,
rawmaterial.
Two kind of assets is there
1. Current asset.-land machinery etc
2. Fixed asset.-Debtors,cash,Bank etc
| Is This Answer Correct ? | 1 Yes | 15 No |
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