- Assets are economic resources of an enterprise that will be usefully expressed in monetary terms.
- Assets are items useful employed by the business in its operations.
- For example, Super Bazar owns a fleet of trucks, which is employed by it for delivering foodstuffs; the trucks, thus, provide economic benefit to the enterprise. This item is going to be shown on the asset side of the record of Super Bazaar.
- Assets are often broadly classified into two types: current and Non-current.
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