Question

Which of the following is wider term?
Expenses
Losses
Cost
Assets​

Answer 1

• Assets is a much wider term as compared to expenses, losses and cost.  
• Assets include physical items with economic value that an organization possess which would be beneficial in the future.  
• It can generate cash flow to reduce expenses, improve sales or help in production.  
• Items like machinery, raw materials and inventory are examples of assets.
• Assets can be grouped into two major categories namely tangible and intangible assets.
• Tangible assets are those which can be touched thin and felt. These include both current assets as well as fixed assets.
• Current assets include inventory while fixed assets include property.  
• Intangible assets include Goodwill trademark etc.  
• In modern times employees are considered as one of the most valuable assets of the firm.