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Assets

An asset is something owned by a business such as buildings, equipment and cash. They are investments, things earned or things used to generate income.

Assets usually have a debit balance and are reported on the balance sheet.

Examples of assets include:

  • Land
  • Property
  • Equipment
  • Trademarks
  • Stock
  • Trade debtors
  • Cash
  • Rent deposits
  • Prepayments