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  2. 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. They are bought or created to increase a firm's value or benefit the firm's operations.
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    What are business assets?Business: Business assets deliver value to a company because they can be used to produce goods, fund operations and drive growth. Assets include physical items such as machinery, property, raw materials and inventory, and intangible items like patents, royalties and other intellectual property.
    What is an asset in economics?An asset represents an economic resource owned or controlled by, for example, a company. An economic resource is something that may be scarce and has the ability to produce economic benefit by generating cash inflows or decreasing cash outflows. An asset can also represent access that other individuals or firms do not have.
    What are assets in accounting?Definition: An asset is a resource that has some economic value to a company and can be used in a current or future period to generate revenues. These resources take many forms from cash to buildings and are recorded on the balance sheet until they are used.
    What is an example of an asset?An asset is anything that has current or future economic value to a business. Essentially, for businesses, assets include everything controlled and owned by the company that’s currently valuable or could provide monetary benefit in the future. Examples include patents, machinery, and investments. What are intangible assets?
     
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    WEBSep 21, 2020 · Learn what an asset is in business accounting and how to classify it by convertibility, usage, and physicality. Find out how to create a balance sheet and see examples of common assets.

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