Question

What is the meaning of Assets according to Accounting??​

Answer 1

In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. ... Current assets include inventory, accounts receivable, while fixed assets include buildings and equipment.

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Answer 2

Answer:

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. Assets are reported on a company's balance sheet and are bought or created to increase a firm's value or benefit the firm's operations.