ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Personal assets are things of present or future value owned by an individual or household. Common examples of personal assets include: Cash and cash equivalents, certificates of deposit, checking, and savings accounts, money market accounts, physical cash, Treasury bills.

Detailed explanation-2: -Net worth is the value of the assets a person or corporation owns, minus the liabilities they owe. It is an important metric to gauge a company’s health, providing a useful snapshot of its current financial position.

Detailed explanation-3: -An asset is anything you own that adds financial value, as opposed to a liability, which is money you owe. Examples of personal assets include: Your home. Other property, such as a rental house or commercial property. Checking/savings account.

Detailed explanation-4: -The book value of an asset is the value of that asset on the “books” (the accounting books and the balance sheet) of a company. 1 It’s also known as the net book value. Businesses can use this calculation to determine how much depreciation costs they can write off on their taxes.

Detailed explanation-5: -Anything of value that is owned is called an ASSET. Assets have value because they can be used to acquire other assets or be used to operate a business. Financial rights to the assets of a business are called EQUITIES.