what is an asset and liability ?

Answer Posted / chandana

Asset means which is not meant for resale and which is used
in the business for a longer period. For example Land,
building, furniture, building , goodwill etc.
Liability means the amount which the company is liable/
payable to the outsiders. For example creditors, bills
payable etc.

Is This Answer Correct ?    13 Yes 5 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

When was rbi nationalized?

694


What is the difference between nationalized banks and private banks?

630


How to calculate the salary as per government?

1880


What are the various services provided by a commercial bank?

622


Can I Erase My Student Loans By Filing Bankruptcy?

619






HI ,MY QUALIFICATION B.A. + PGDCA AND TRAINED ON JAVA . NOW I WANT TO KNOW TO GET JOB SOON WHICH COURSE I HAVE TO LEARN ?

1633


What do you mean by cin and what specification does it contain?

595


What are the limitations that should be known before trading?

740


Define Convertible Debentures?

662


What are your technical certifications?

698


What are the different types of financial reporting?

570


WHAT IS CFORM PROVISION

3304


What is difference between FII and FDI?

636


What details does the deposit register cover?

612


What do you mean by financial accounting?

592