Asset

Assets are items of economic value that either generate income(such as bonds) or represent wealth(such as gold).  On a balance sheet, assets are equal to the sum of liabilities and shareholder equity. In accounting terms,  assets are divided into  current assets (cash and other liquid equivalents), long-term assets (property, plant and equipment), deferred assets (expenditures for future costs such as insurance, rent, interest), and intangible assets (trademarks, patents, copyrights, goodwill).

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