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What is an Asset? - Finance Strategists What Is an Asset? An asset is a resource owned by an individual or organization which provides economic value This includes cash, equipment, property, rights, or anything that helps a company generate revenue or reduce expenses
Asset - Wikipedia 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 Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset) [1]
ASSET Definition Meaning - Merriam-Webster The meaning of ASSET is the property of a deceased person subject by law to the payment of his or her debts and legacies How to use asset in a sentence
asset noun - Definition, pictures, pronunciation and usage notes . . . Definition of asset noun from the Oxford Advanced Learner's Dictionary a person or thing that is valuable or useful to somebody something In his job, patience is an invaluable asset Being able to speak a foreign language is a major asset I’m not sure if his forcefulness is an asset or a liability
What are Assets? - Definition | Types and Classes | Examples Explained 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
Asset financial definition of asset - Financial Dictionary Assets are everything you own that has any monetary value, plus any money you are owed They include money in bank accounts, stocks, bonds, mutual funds, equity in real estate, the value of your life insurance policy, and any personal property that people would pay to own
What are Assets? Defining Assets In Accounting | Sage Advice US An asset is a resource with economic value that an individual, corporation, or country owns or controls, with the expectation that it will provide future benefits In simpler terms, assets are anything valuable that contributes to an entity’s wealth
The Definition of Assets in Accounting - Accounting Basics for Students In our previous lesson we were introduced to the basic accounting equation and its three elements: assets, liabilities and owners equity In this lesson we're going to learn the full definition of assets in accounting, when to recognize something as an asset and how to value them