Accountancy, asked by namrata372, 8 months ago

what is Liability and assets?

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Answered by Anonymous

1

Answer:

In its simplest form, your balance sheet can be divided into two categories: assets and liabilities. 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!

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