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Questions and Answers
______ are resources owned by a company or individual that have economic value
______ are resources owned by a company or individual that have economic value
Assets
In accounting, assets are classified into different categories such as current assets, fixed assets, and intangible assets
In accounting, assets are classified into different categories such as current assets, fixed assets, and intangible assets
Assets
The value of assets is usually recorded on a company's balance sheet
The value of assets is usually recorded on a company's balance sheet
Assets
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Study Notes
Assets
- Assets are resources owned by a company or individual with economic value
- In accounting, assets are categorized into three main types:
- Current assets
- Fixed assets
- Intangible assets
- The value of assets is recorded on a company's balance sheet
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