Accounting Dictionary - Letter A
are the economic resources a business uses to accomplish its main goal (i.e., increase the owners' wealth). There three are characteristics of assets: future probably economic benefit; controlled by the entity; and result from prior events or transactions. Assets can be current (e.g., cash, accounts receivable) and non-current (e.g., fixed assets, long-term investments).
Don't see the term you are looking for? Try searching our entire website:
Not a member?
See why people join our
online accounting course:
online accounting course:
