Scribd Logo
Upload

Welcome to Scribd!

  • Asset Vs Liability

    Uploaded by

    roland uadan jr
    23 views8 pages
    This document discusses the key differences between assets and liabilities. Assets are items of value that are owned by a company and can generate future economic benefits, like property, equipment, or inventory. Liabilities are obligations that a company owes to others, such as debt, wages payable, or taxes payable. While assets put money into a company's accounts, liabilities deplete funds. Examples of common assets include cash, property, and equipment, while examples of liabilities include loans, wages owed, and unpaid taxes.

    Original Description:

    Original Title

    asset vs liability

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document discusses the key differences between assets and liabilities. Assets are items of value that are owned by a company and can generate future economic benefits, like property, equipment, or inventory. Liabilities are obligations that a company owes to others, such as debt, wages payable, or taxes payable. While assets put money into a company's accounts, liabilities deplete funds. Examples of common assets include cash, property, and equipment, while examples of liabilities include loans, wages owed, and unpaid taxes.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    23 views8 pages

    Asset Vs Liability

    Uploaded by

    roland uadan jr
    This document discusses the key differences between assets and liabilities. Assets are items of value that are owned by a company and can generate future economic benefits, like property, equipment, or inventory. Liabilities are obligations that a company owes to others, such as debt, wages payable, or taxes payable. While assets put money into a company's accounts, liabilities deplete funds. Examples of common assets include cash, property, and equipment, while examples of liabilities include loans, wages owed, and unpaid taxes.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 8

    Tools

    About 370,000,000 results (0.47 seconds)


    Search Results
    Featured snippet from the web
    Assets are the items your company owns that can provide future economic
    benefit. Liabilities are what you owe other parties. In short, assets put money in your
    pocket, and liabilities take money out!

    What is an Asset? What is a Liability? - Digit.Business


    https://digit.business › Financial Literacy

    About featured snippets•


    Feedback

    People also ask


    What are examples of liabilities and assets?
    Is a car an asset or liability?
    What are 5 examples of liabilities?
    Feedback

    Assets vs. Liabilities | Differences, Examples, & More


    https://www.patriotsoftware.com › blog › accounting

    Mar 22, 2022 — Assets include items of value the business owns that generate revenue
    and provide long-term. Examples of liabilities. Liabilities can be short- ...

    Difference between assets and liabilities | nibusinessinfo.co.uk


    https://www.nibusinessinfo.co.uk › content › difference...

    Assets are resources that you own, while liabilities are obligations that you have – the difference
    between them is your equity in the company.

    The difference between assets and liabilities - AccountingTools


    https://www.accountingtools.com › articles › what-is-th...

    May 1, 2022 — The main difference between assets and liabilities is that assets provide a future
    economic benefit, while liabilities present a future ...
    Assets vs. Liabilities: Examples of Assets and Liabilities - 2022
    https://www.masterclass.com › articles › assets-vs-liabilit...

    Nov 2, 2021 — Assets represent a net gain in value, while liabilities represent a net loss in value.
    A standard accounting equation pits the total assets of a ...

    What Are Assets and Liabilities? A Simple Primer for Small ...
    https://www.freshbooks.com › hub › accounting › asset...

    What Is the Difference Between Assets and Liabilities? ... In accounting, assets are what a
    company owns while liabilities are what a company owns, according to ...

    Assets vs. Liabilities: What's the Difference? - The Motley Fool


    https://www.fool.com › Accounting

    May 18, 2022 — Your balance sheet is divided into two parts, assets and liabilities. Assets are the
    resources your company owns, while liabilities are what ...

    Liability Definition - Investopedia


    https://www.investopedia.com › ... › Business Essentials

    Liabilities can be contrasted with assets. Liabilities refer to things that you owe or have borrowed;
    assets are things that you own or are owed. Key Takeaways.
    How Do Liabilities Relate to Assets and Equity?
    What Are Examples of Liabilities That Individuals or Households Have?

    Videos

    PREVIEW
    5:51

    Assets vs Liabilities
    YouTube · The Finance Storyteller
    5 minutes, 51 seconds
    Aug 6, 2019
    8 key moments in this video

    PREVIEW
    11:00

    Assets vs Liabilities and how to generate assets


    YouTube · Practical Wisdom - Interesting Ideas
    11 minutes
    Feb 17, 2021

    10 key moments in this video

    PREVIEW
    4:18

    Assets vs Liabilities | Difference between Assets and Liability.


    YouTube · Educationleaves
    4 minutes, 18 seconds
    May 5, 2022
    7 key moments in this video

    View all

    Assets vs Liabilities | Top 9 Differences (with Infographics)


    https://www.wallstreetmojo.com › assets-vs-liabilities

    The primary difference between Assets and Liabilities is that an Asset is anything owned by the
    company to provide economic benefits in the future.
    Current Long-term Liabilities: 10000
    Current Taxes Payable: 17000
    Total Current Liabilities: 41000
    Accounts Payable: 14000

    Related searches
    Liabilities examples

    Accounts payable
    Debt

    Interest

    Accrued liabilities

    Bond

    Bank

    See more

    10 elements of financial statements

    List of assets and liabilities in balance sheet

    List of assets and liabilities in accounting pdf


    Feedback

    asset vs liability vs equity

    what is the difference between assets and liabilities called

    assets = liabilities + equity examples

    what is liability

    liability vs asset in relationship


    difference between assets and liabilities in tabular form

    liabilities in accounting

    You might also like