Question

what is assets,?? explain?? ​

Answer 1

Answer:

a useful or valuable thing or person.

Explanation:

hope you understand. ^_^

Answer 2

$\huge\mathbb\blue{AnSwEr}$

$\huge\rm\red{Assets:-}$

Assets are material things or properties of a business .Assets are the important one in a business firm.Assets may be classified into:-

• $\sf\blue{fixed\: assets}$
• $\sf\green{current \: assets}$

$\implies$Fixed assets are classified into 4. They are:-

$\sf\purple{1) Tangible \: assets-->}$

Assets having definite shape and physical existence are called tangible assets. Eg:-Land, building,machinery , furniture etc.

$\sf\pink{2)Intangible \: assets-->}$

Assets having no physical existence but are represented by rights in certain things are called intangible assets. Eg:- Goodwill,patent,Trade marks etc.

$\sf\red{3)Wasting \: assets-->}$

Assets which get exhausted to the extend of extraction are called wasting assets.

$\sf\blue{4) Fictitious \: Assets-->}$

Assets which have no real value but are shown in the books of accounts are called Fictitious assets. Eg:- Priliminary expenses, discount of issue of shares etc.

$\implies\rm\orange{Current \: assets}$

Assets which are held for a short period are called current assets. Eg:-Cash, stock,debtors etc.

hOpe this helps..