Assets & Liabilities

Assets is a resource with economic value that an individual, corporation, country owns or controls with the expectation that it will provide a future benefit. In general , an asset is something that in the future can generate cash flow.

Key Takeaways
 ➤  An asset is a resource with economic value that an individual, corporation, or country owns with the expectation to provide future benefit.
 ➤ An asset can be viewed as something that, in the future can generate positive cash flow.
Examples of Assets
➤ Investments
➤ Businesses
➤ Education




Liabilities is an obligation to, or something that you owe somebody else. it is defined as financial debts that will cost you in the future.
Examples of Liabilities
➤ Debts
➤ Accrued Expenses
➤ Financial Obligation

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