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What is an asset and liability

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What is an asset and liability

    • Posted by Mahi Sharma 7 years, 11 months ago

    CBSE > Class 11 > Accountancy
    • 2 answers

    Diksha Gattani 7 years, 10 months ago

    Assets means our own property or we can say wealth.... where as liability means responsibility in terms of money...

    0Thank You

    Syed Khabib 7 years, 11 months ago

    Assets- Anything which will enable a business enterprise or firm to get cash or benefits in future .Ex-cash,stock, furniture ,land and buildings. Liability -it refers to the amount which the firm owes or pay to the outsiders .Ex- creditors,BP.

    3Thank You

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