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Machinery is considered an asset because it represents a valuable resource that a business uses to generate revenue. It is classified as a fixed asset on the balance sheet, reflecting its long-term utility and contribution to the company's operations. While it may incur maintenance costs and depreciation over time, these do not change its status as an asset.
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Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
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