Question

Explain ‘Assets’ and ‘knowledge’ with example.

Answer 1

An asset is a resource that has some economic value to a company and can be used in a current or future period to generate revenues.

examples

Cash and cash equivalents.

Marketable securities.

Prepaid expenses.

Accounts receivable.

Inventory

Knowledge is a familiarity, awareness, or understanding of someone or something, such as facts, information, descriptions, or skills, which is acquired through experience or education by perceiving, discovering, or learning. Knowledge can refer to a theoretical or practical understanding of a subject.

examples   of knowledge is having the ability to find a location. An example of knowledge is remembering details about an event.