Question

what is diffrence between asset and liablity​

Answer 1

Explanation:

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

liability =the state of being responsible for something

Answer 2

Answer:

The main difference between assets and liabilities is that assets provide a future economic benefit, while liabilities present a future obligation. Even if there are far more assets then liabilities, a business cannot pay its liabilities in a timely manner if the assets cannot be converted into cash.Assets are the items your company owns that can provide future economic benefit. Liabilities are what you owe other parties. In short , assets put money in your pocket and liabilities take money out.

Explanation:

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