What do you mean by Asset
Answers
Answer:
In financial accounting, an asset is any resource owned by a business or an economic entity. It is anything (tangible or intangible) that can be owned or controlled to produce value and that is held by an economic entity and that could produce positive economic value.
Explanation:
Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).The balance sheet of a firm records the monetaryvalue of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business.
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answer...
asset means a person or thing that is useful to somebody/something
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