explain with example assets and liabilities
also state 2 differences
Answers
Answered by
1
♡HOLA FRIEND♡
----->HERE YOUR ANSWER <----
The difference between assets and liabilities. The main difference between assets and liabilities is thatassets provide a future economic benefit, while liabilities present a future obligation. ... One must also examine the ability of a business to convert an asset into cash within a short period of time.
Assets are a company's resources—things the company owns. Examples of assets include cash, accounts receivable, inventory, prepaid insurance, investments, land, buildings, equipment, and goodwill. ... Assets - Liabilities= Owner's (or Stockholders') Equity.
^^HOPE IT IS HELPFUL ^^
Similar questions