BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Resources owned by a company (such as cash, accounts receivable, vehicles) are referred to as the Assets of a company but the loan which is taken is not an asset.

Detailed explanation-2: -Asset-based lending is the business of loaning money in an agreement that is secured by collateral. An asset-based loan or line of credit may be secured by inventory, accounts receivable, equipment, or other property owned by the borrower.

Detailed explanation-3: -If you loaned money to someone, that loan is also an asset because you are owed that amount. For the person who owes it, the loan is a liability.

Detailed explanation-4: -However, personal vehicles used to get to work are not considered fixed assets.