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What are assests

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What are assests

Posted by Jatin Taneja 5 years, 1 month ago

CBSE > Class 11 > Accountancy

3 answers

Amit Singh 5 years, 1 month ago

Assets are any resources that are owned by a business. (Any resources means har vo cheez ko business ki property hai ex goods building Machine land equipment.)

Yogita Ingle 5 years, 1 month ago

Any valuable thing which has monetary value and owned by a business, is its asset. In other words, assets are the monetary values of the properties or the legal rights that are owned by the business organisations.

Fixed Assets− These are those assets that are hold for the long term and increase the profit earning capacity and productive capacity of the business. These assets are not meant for sale, for example, land, building machinery, etc.

Current Assets− Assets that can be easily converted into cash or cash equivalents are termed as current assets. These are required to run day to day business activities; for example, cash, debtors, stock, etc.

Gourav Shah 5 years, 1 month ago

In simple words, assets refers to the property that is owned by an enterprise or a firm.

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