MANAGEMENT

Detailed explanation-1: -An asset can often generate cash flows in the future, such as a piece of machinery, a financial security, or a patent. Personal assets may include a house, car, investments, artwork, or home goods. For corporations, assets are listed on the balance sheet and netted against liabilities and equity.

Detailed explanation-2: -53 The future economic benefit embodied in an asset is the potential to contribute, directly or indirectly, to the flow of cash and cash equivalents to the entity. The potential may be a productive one that is part of the operating activities of the entity.

Detailed explanation-3: -The term for an economic resource that is expected to benefit the future is assets. The asset refers to the item or property owned by the organization that has money value and is beneficial to the company in the future. Assets are one of the resources which have economic value.

Detailed explanation-4: -Tangible assets are often an essential resource for small business. They are the fixed (ie physical) operating resources that your business uses over a long period, such as premises, property and equipment.

Detailed explanation-5: -An asset is anything that has current or future economic value to a business. Essentially, for businesses, assets include everything controlled and owned by the company that’s currently valuable or could provide monetary benefit in the future. Examples include patents, machinery, and investments.