distinguish between assets and liabilities
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liability is something to which you have to waste resources on whereas an asset is something which is useful and help in producing resources or benefits
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assets are nothing but what is earned or something which is useful and profitable in future
liabilities are nothing but spending or which is useless and creates loss in future
for example employed is an asset for country and unemployed is liability
liabilities are nothing but spending or which is useless and creates loss in future
for example employed is an asset for country and unemployed is liability
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