In this article we will look at some related terms used to talk about what a person or company owns. All of these terms contain the word asset.
What is an asset?
The technical name for the things a company or a person owns are their assets. Assets are expected to increase in value. The opposite of an asset is a liability, something that belongs to someone else and which the company will eventually have to pay back.
Assets appear on a company’s balance sheet,
There are several different types of asset: