Any item of economic value owned by an individual or / company / or corporation, especially that which could be converted to cash.
Examples are cash, securities, accounts receivable, inventory, office equipment, real estate (Land and Property), a car, gold, silver and other property.
On a balance sheet, assets are equal to the sum of liabilities, common stock, preferred stock, and retained earnings.
The firms's biggest & most valuable asset is the factory that the company just built to customization.
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