What is an asset?
Q: What is an asset?
A: An asset is something valuable or useful that has economic value and can produce income in the future.
Q: How is the value of an asset expressed in business and accounting?
A: The value of an asset is expressed as a certain amount of money.
Q: What is the basis of calculating the amount of money an asset can produce in the future?
A: The calculation of the amount of money an asset can produce in the future is based on past transactions or events.
Q: Why is correct evaluation of assets important?
A: Correct evaluation of assets is important because it can help in making informed decisions about what to do with an asset.
Q: Can you give some examples of assets?
A: Examples of assets include money, property (land and buildings) and amounts to be received from someone.
Q: How many types of assets are there?
A: There are two types of assets.
Q: What are the two types of assets?
A: The two types of assets are tangible assets and intangible assets.
