define the term assets
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asset means an item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
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Answer:
In financial accounting, an asset is any resource owned by a business or an economic entity. It is anything (tangible or intangible) that can be owned or controlled to produce value and that is held by an economic entity and that could produce positive economic value.
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