Accountancy, asked by Mansi10427, 9 months ago

What do you mean by Asset

Answers

Answered by aparnasa2016
1

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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Answered by pratimadhara76677979
0

answer...

asset means a person or thing that is useful to somebody/something

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