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business asset (something of value owned by a business). Anything owned by an entity or an individual is an asset of that entity or that individual and which can provide cash flow on disposal.
Wiki User
∙ 11y ago
Wiki User
∙ 15y agoAn asset is a resource controlled by an entity (ie. the entity is entitled to the benefits or can restrict use of the asset) as a result of a passed event (ie. signing of a contract) from which future economic benefits are expected to flow to the entity to whom the asset belongs.
Wiki User
∙ 15y agoAsset-noun 1. a useful and desirable thing or quality: Organizational ability is an asset. 2. a single item of ownership having exchange value. 3. assets, a. items of ownership convertible into cash; total resources of a person or business, as cash, notes and accounts receivable, securities, inventories, goodwill, fixtures, machinery, or real estate (opposed to liabilities ). b. Accounting. the items detailed on a balance sheet, esp. in relation to liabilities and capital. c. all property available for the payment of debts, esp. of a bankrupt or insolvent firm or person. d. Law. property in the hands of an heir, executor, or administrator, that is sufficient to pay the debts or legacies of a deceased person. Answer: there is no set value for any one asset; the values fluctuate.
Wiki User
∙ 9y agoAssets are those items which acquired by business to use for the generation of business revenue for more than one fiscal year.
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Define the term resources?
resources is a person, asset, capital or material which can be used to accomplish a goal.
How does one define intangible assets?
One may define intangible assets as meaning an asset that is not physical in nature or not monetary. An example of such an asset would be intellectual property.
How would you define the term electromegnetism?
define the term "electromegnetism".
What is the difference between asset management and strategic asset management?
"Strategic asset management" could refer to "strategic asset allocation", i.e. long-term asset allocation - whereas "tactical asset allocation" refers to short-term investments.
Why it is that an asset is a asset?
There are three characteristics that define an asset, as follows:The entity obtained the asset in a past event/transaction.The entity has present control over the asset.Future economic benefit is expected to flow to the entity as a result of their possession of the asset.
Is machinery on an income statement or balance sheet?
Machinery is an asset of business and long term asset so it is part of long term asset in balance sheet.
Is inventory an example of a long term asset?
Inventory is usually stocked for short term time period for one to three months so it is a current asset and never be considered as long term asset.
Is long term debt asset or liabilities?
A long-term investment is considered a long-term asset, because a firm expects a probable future economic benefit to result from it.
Define public sector?
the economic sector asset by government for public welfare.
How do you define asset and liability?
An asset makes a profit, either on a periodic basis, or when you sell the asset. A liability is an expence on a periodic basis, or a loss is made when disposed off.ORAn asset is something which we own and liability is something which we owe.
What is asset impairment?
Asset impairment is a financial term. When the projected worth of the asset is less than its current worth, the asset is considered to be impaired.
Is an unpaid loan an asset?
No, it is a debt and therfore cannot be considered an asset. the only way to term it an asset is to be the lender.
