what are assets......
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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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In financial accounting, an asset is any resource owned by the business. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset. Simply stated, assets represent value of ownership that can be converted into cash.
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