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What are Assets?

Answers were Sorted based on User's Feedback



What are Assets?..

Answer / rajesh

Assets are the properties owned by the business, which
benefits future periods is called assets

Is This Answer Correct ?    4 Yes 0 No

What are Assets?..

Answer / sudhakar

the valuable things owned by the business

Is This Answer Correct ?    3 Yes 0 No

What are Assets?..

Answer / giri

Assets are those which generate future cashflow for the
company or reduce future expenses of the company.

Is This Answer Correct ?    2 Yes 0 No

What are Assets?..

Answer / harsimranjeet kaur

anything which is in the possesion or is the property of a
business enterprise including the amount due to itfrom
others is called assets.

for eg. cash and bank balances, stock, furniture, land and
building, machinery, bills receivable, money owing by
debtors, etc

there are 4 types of assets namely:
1. Fixed assets: continued in the business and not meant for
resale. Eg, Plant and Machinery, Land and Building, etc

2. Current assets: are meant for sale or management would
convert into cash within one year.
For Eg, Debtors, Stock, Bills receivables

3. Intangible and tangible assets: Tangible assets are those
which can be seen or touched or have physical existence. For
eg, L&B, Plant&Machinery,etc

Intangible assets are those which cannot be seen or touched
or dont have physical existence. For eg, goodwill, Trade
marks, Patent,etc

4. Wasting Assets: are those assets which get exhausted with
the lapse of time. for eg, patents, Trade marks,Leasehold
properties, etc

Is This Answer Correct ?    2 Yes 0 No

What are Assets?..

Answer / ranjan kumar

The physical exitance of goods which are not meant for
resale and which are kept in the business for a long time is
called Assets.
There are five kinds of Assets.
(1)Fixed Assets:-Those Assets which are kept in the business
for a long time.and it takes long time to convert in the
cash is called fix Assets.
EX.-Land,Building etc.
(2)Current Assets:-Those Assets which are kept in the
business for a short time and it takes short time to convert
in the cash is called Current Assets.
EX-Cash,Bills receiver etc.
(3)Tangible Assets:-Those Assets which can be seen or
touched is called Tangible Assets.
EX-Land,Computer etc.
(4)Intangible Assets:-Those Assets which can't be seen or
touched is called Intangible Assets.
EX-Goodwill,Patent etc.
(5)Westing Assets:-Those Assets which get exhaust being used
is called westing Assets.

Is This Answer Correct ?    1 Yes 0 No

What are Assets?..

Answer / maan singh verma

Assets are not only the part of business it is the wealth
of every person through which he genorate the resources for
futher expantions.

Is This Answer Correct ?    0 Yes 0 No

What are Assets?..

Answer / bhavani

assets are the properties of the business.they are
different tyes of assets.current assets,fixed
assets,tangible assets,intangible assets.

Is This Answer Correct ?    0 Yes 0 No

What are Assets?..

Answer / muhammed.ok

assets are valuable things which are owned by the concerned
company

Is This Answer Correct ?    0 Yes 1 No

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