Question

good evening ❣ what are assests and liabilities need difference between the two ______ PLEASE ANSWER ON YOUR OWN ____ no copying from net⚛ no spam✌​

Answer 1

The main difference between assets and liabilities is that assets 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....

If you want to know some more difference then you can see the chart

I hope it may help you ❤

Answer 2

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$\textsf{\pink{Q.}}$ What are assests and liabilities ?

$\textsf{\pink{Ans.}}$

¡.) $\bold{Assets\::- }$ They are the resources which are owned by a firm and can be converted into money when needed.

¡¡.) $\bold{Liabilities\::-}$They are the amount of money owed by the firm from an outsider.

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