what is meant by assets and liabilities
Answers
Answer:
Assets are what a business owns and liabilities are what a business owes. Both are listed on a company's balance sheet, a financial statement that shows a company's financial health. Assets minus liabilities equals equity, or an owner's net worth.
Explanation:
hope you like the answer. Please mark me as the brainliest.
Answer:
See below...
Explanation:
Assest
An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.
Liability
A liability is something a person or company owes, usually a sum of money. ... Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.