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- In accounting terms, an asset is12345:
- A resource with economic value owned or controlled by an individual, corporation, or country.
- Expected to provide a future benefit.
- Reported on a company's balance sheet.
- Classified as current, fixed, financial, or intangible.
- Can include tangible items like property, plant, and equipment, as well as intangible items like software and patents.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.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're classified as current, fixed, financial, and intangible.www.investopedia.com/terms/a/asset.aspAssets in accounting are a medium through which one can undertake business, which is tangible or intangible in nature with a monetary value due to the economic benefits. Assets include property, plant and equipment, vehicles, cash or cash equivalent, accounts receivables, and inventory.www.wallstreetmojo.com/assets-in-accounting/Home › Accounting › Assets › What is an Asset? Definition: An asset is a resource that owned or controlled by a company and will provide a benefit in current and future periods for the business. In other words, it’s something that a company owns or controls and can use to generate profits today and in the future.www.myaccountingcourse.com/accounting-dictiona…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.www.myaccountingcourse.com/assetsIn accounting, assets refer to any physical properties such as inventory, vehicles, and buildings, monetary resources such as cash, investments, and receivables, as well as any intangible properties like software and patents that belong to a business and help it earn economic benefits in the future.accountingo.org/financial/concepts/assets/ - People also ask
What Is an Asset? Definition, Types, and Examples - Investopedia
- Current Assets
- In accounting, some assets are referred to as current. Current assetsare short-term economic resources that are expected t…
- Fixed Assets
- Fixed assets are reso… See more
An asset is a resource with economic valuethat 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 … See more
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 … See more
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