One difference between a market economy and a command economy is that the determination of the demand and supply is completely different.
A market economy can be referred to or considered as a type of economy wherein the determination of the factors of production and operations are as per the prevailing formidable forces of supply as well as demand. A command economy, on the other hand, determines its factors of production without the forces of demand and supply, and is in the hands of the government authorities.
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a company has an inventory period of 26.5 days, an accounts payable period of 43.1 days, and an accounts receivable period of 34.7 days. what is the company's operating cycle?
An organization's operational cycle is the period of time it takes to purchase goods, sell them, and get paid for those sales. The company's operating cycle is 18.1 days.
What is the operating cycle?The days needed for a business to receive inventory, sell the goods, and collect money from the sale of the inventory are referred to as an operating cycle (OC). This cycle is crucial in evaluating how effectively a business operates.
The operating cycle is calculated using the formula:
Operating cycle = Inventory period + Account receivable period - Account payable period
= 26.5 + 34.7 - 43.1
= 18.1 days
Therefore, 18.1 days is the company's operating cycle.
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Which of these is a common difficulty that traders face when exporting goods or services to other countries?
a) Most firms do not receive any significant assistance from the governments.
b) Firms often face aggressive competition from smaller firms.
c) Many customers require face-to-face negotiations on their home turf.
d) Most global markets are saturated and present limited growth opportunities
Many customers require face-to-face negotiations on their home turf is a common difficulty that traders face when exporting goods or services to other countries.
What presents the biggest exporting challenge?An embargo, which is a political agreement or blockade that restricts a foreign country's capacity to import or export, is the most obvious obstacle to trade. Embargoes are still in use, but they are uncommon outside of times of war and difficult to implement. A tariff, sometimes known as an import tax, is the most prevalent trade barrier.
When exporting somewhere, one of the biggest challenges you might anticipate is the financial aspect of the process. The most obvious factor is the disparity in tax systems between nations, which has a significant impact on the overall cost of exporting commodities like electrical equipment.
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deep earth extraction inc. operates a facility near estuary bay. discharging waste from the facility into the bay can result in:______.
Penalties and damages will be incurred as a result of Deep Earth Extraction Inc.'s decision to discharge waste from its facility into a Bay-area body of water. A is the correct response.
On December 2, 1970, under President Nixon's administration, the United States government established the Environmental Protection Agency (EPA), which is in charge of the environment. It was created to protect the nation's water and biodiversity from chemical and biological pollutants and to address growing concerns about pollution and toxic waste dumps by industries.
In order to minimize the harm caused by toxic waste, the Environmental Protection Agency (EPA) passed the Clean Water Act, which regulates the standard for dumping wastewater for all industries and regulates the discharge of toxic pollutants into the nation's water. Penalties and criminal prosecutions will result from violating the Clean Water Act.
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Full Question = Deep earth extraction inc. operates a facility near estuary bay. discharging waste from the facility into the bay can result in
a. penalties and damages
b. penalties only.
c. damages only.
d. none of the choices.
stellar inc had a deferred tax asset the deferred tax asset is the corporation's current tax expense is what amount should stellar report as total income tax expense
Stellar report as total income tax expense.Given the tax expense and the deferred taxes, the total income tax expense for 2020 is $73,000.A corporation would be required to pay the estimated annual current tax expense.
However, a deferred tax expenditure could need to be settled since tax authorities and the corporation use different depreciation techniques. In light of this, the total amount of income tax is as follows: = Current tax expense + Deferred tax expense = 52 000 + ((17 000 -10 000) + (26 000 -12 000)) = 73 000 .Hence, the taxable income.
The current year is $12,000,000. => The annual tax rate is 25%. $17,500,000 is the deferred tax asset. => The expected costs for the short-term discrepancy are $70,000,000. => "The temporary difference at the end of the current year is $45,000,000." So let's go right to the solution; step one is to compute or ascertain the tax expense. .
Complete question:
Stellar inc. reported deferred tax assets and deferred tax liabilities at the end of 20x4 and at the end of 20x5. according to fasb 109, for the year ended 20x5, nala should report deferred income tax expense or benefit equal to the sum of the net changes in deferred tax assets and deferred tax liabilities. decrease in the deferred tax assets. increase in the deferred tax liabilities. amount of income tax liability, plus the sum of the net changes in deferred tax assets and deferred tax liabilities.
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Profits are important so businesses can retain employees, attract investors, and contribute to the __________. Enter the answer.
Businesses need to make money in order to keep its workers, draw in investors, and support their stability and expansion.
Why is a company's bottom line important?Any business or commercial entity's main objective is to make money. The quantity of revenue that a corporation earns determines its stability. Future growth, reputation, shareholder value, and market value of a corporation are all determined by its earnings.
When profits are good, the business solely increases wages for its staff and dividend payments to shareholders. Additionally to providing financial compensation, higher earnings motivate staff to remain with the same business.
Why are revenues essential to expansion?Making a profit is essential to a company's success since it influences a company's ability to acquire bank funding, attract investors to fund its operations, and expand its firm. Businesses cannot stay in business if they are not profitable.
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What are the spending categories?
Every Workday Procurement transaction must contain a spend category as a necessary component. Spend categories combine commodity codes—used to specify the kind of product or service being purchased—with object codes.
Every Workday Procurement transaction must contain a spend category as a necessary component. Spend categories are a combination of commodity codes from the Legacy system, which specify the kind of thing or service being purchased, and object codes. Some workday spending categories may be considered trackable while others are not. Except for firearms, livestock/animals, and bulletproof vests, which are tracked at any value and marked as an LSU asset, products having a total acquisition cost of $1,000 or more should be included in a tracked spend category.
Building a comprehensive picture of the overall cost on commodities across the LSU system is the aim of the procurement spend categories. Accurate reporting on commodity expenditures increase the possibility of larger discounts and new contracts, which is advantageous for the university. Initial reports have shown that some end users are choosing the spend category based on the hierarchy of spend categories and/or the project they are utilizing the items for rather than the individual item within the hierarchy.
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Cameron is deciding between two landscaping companies for his place of business. Company a charges $25 per hour and a $300 equipment fee. Company b charges $55 per hour and a $150 equipment fee. Let aa represent the amount company a would charge for tt hours of landscaping, and let bb represent the amount company b would charge for tt hours of landscaping. Write an equation for each situation, in terms of t,t, and determine the interval of hours, t,t, for which company a is cheaper than company b.
For Company A to be cheaper than Company B, t must be less than 5 hours.
Equation for Company A: aa = 25t + 300
Equation for Company B: bb = 55t + 150
For Company A to be cheaper than Company B, the following inequality must hold: 25t + 300 < 55t + 150
Subtract 150 from both sides: 25t + 150 < 55t
Subtract 25t from both sides: 150 < 30t
Divide both sides by 30: 5 < t
Therefore, for Company A to be cheaper than Company B, t must be less than 5 hours.
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which of the following statements is true about the relationship between business processes and information systems? group of answer choices information systems incorporate all business process activities and hence, should be developed before business processes. the relationship between business processes and information systems is one-to-one. developing information systems before business processes ensures that all activities are considered in the development process. a business process need not relate to any information system, but an information system relates to at least one business process.
A business process need not relate to any information system, but an information system relates to at least one business process, this statements is true about the relationship between business processes and information systems.
A business process is a logically related sequence of actions that specify how particular business tasks are carried out. It is a distinctive method of coordinating work, information, and knowledge inside an organization. Business processes are important for managers to be aware of since they affect how well a firm can conduct its operations and could provide a competitive edge. Each of the main business functions has its own unique business processes, but many of them are cross-functional. Information systems assist firms restructure and streamline business operations by automating certain of these procedures.
The official organizational division in charge of information technology services is the information systems department. It is in charge of maintaining the networks, data storage, hardware, and software that make up the company's IT infrastructure. The department is often led by a CIO and is made up of professionals including programmers, systems analysts, project managers, and information systems managers.
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how would you record a receipt showing that cash was received from the owner as an investment? question 6 options: credit cash, debit sales debit cash, credit capital debit cash, credit accounts receivable credit cash, debit drawing
In your cash receipts journal, note every cash payment you get. A cash transaction should also be recorded in your sales diary or accounts receivable ledger.
What is a journal?The Journal. it is available. Before switching to entirely original content, it started out with a blend of original and aggregated content. The website was launched at the beginning of 2010.
Owner equity is reduced when a firm owner makes a cash investment. A liabilities account is a capital account. A company's liability increases when it pays for insurance out of pocket. Assets and liabilities are the two main components of a balance sheet.
On the balance sheet, the initial investment is shown at cost (fair value). Any dividends paid out by the investee reduce the amount of the investing firm's ownership interest on the balance sheet (proportionate to ownership), which is increased with subsequent earnings by the investee.
Therefore, cash receipts journal, note every cash payment you get. A cash transaction
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question 8 of 10: true or false: it is good time management to wait until the end of the day to study when all of your other activities are already completed.
Answer: False bro
Explanation: Don't procrastinate!
Answer: False.
Explanation:
You need to squeeze in time for studying with your daily activities because if you keep it until the end of the day, you will have no energy or mindset to start studying.
if eva uses the shortest processing time first priority rule to schedule these jobs, what will be the average number of jobs in her shop today?
The average number of jobs in her shop that day would be 2.33.
What is average?
An average is a single number calculated as the average of a set of numbers, typically calculated as the sum of the numbers divided by the total number of numbers in the set (the arithmetic mean). The average of the numbers 2, 3, 4, 7, and 9 (which add up to 25) is, for instance, 5.
An average could be another statistic like the median or mode depending on the situation. Because the mean would be falsely high if it included the personal incomes of a few billionaires, the median—the amount below which 50% of personal incomes fall and above which 50% of personal incomes rise—is sometimes used instead.
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you suggest businesssense to april. she asks you to explain the largest benefit of outsourcing to this company.
The largest benefit of outsourcing to business sense is gaining economies of scale.
What is outsourcing?The process of recruiting a third party from outside a corporation to accomplish tasks or produce items that were previously done internally by workers is called outsourcing.
Users may utilize the company's whole supply chain through outsourcing, as well as expertise and talents. U.S. businesses can achieve economies of scale and increase their competitiveness via outsourcing.
People from another nation who are employed through an outsourcing contract necessarily have more money available to spend. Additionally, outsourcing can support the flexibility and adaptability of your company.
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because customers are already upset, the language of adjustment messages should be particularly . a. vague b. adamant c. sensitive d. negative
Because customers are already agitated, the language used in adjustment messages should be especially sensitive.
What is the characteristics of a sensitive people?Being highly sensitive is a valuable trait with numerous benefits. HSPs are known for their keen observation, intuition, thoughtfulness, compassion, empathy, conscientiousness, loyalty, and creativity. People with higher sensitivity are consistently rated as top contributors by managers.However, a tendency to freeze under intense pressure and take negative feedback personally can be drawbacks, particularly at work.Biologically speaking, highly sensitive people pick up on more stimuli within and around them.At the same time, hyper-awareness can be exhausting. Situations that are mildly stressful to the average person can cause a sensitive person to overthink.To learn more about hyper-awareness refer to:
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in the domestic market, following the imposition of an import quota, imports ________, domestic production ________, and prices ________.
In the domestic market, following the imposition of an import quota, imports decrease domestic production increases and prices increases.
In the case of the domestic market, the import quota would be seen as the nation's maximum import allowance. The import is now decreased when the import quota is put into place, the domestic output is increased, and the price is also increased.
Import restrictions will drive up domestic prices and, in the event of a large country, drive down export prices. The discrepancy between domestic and foreign prices following the implementation of the quota is known as a "quota rent." An import quota will be used to reduce the number of imports to the quota amount.
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currently, about how much of the global population increase is taking place in low-income nations?
The world's current population of 7.6 billion is projected to rise to 8.6 billion in 2030 and 9.8 billion in 2050. In 2100, it is projected to reach 11.2 billion.
In recent years, there has been a decline in the population in some cities. The majority of these are situated in Asia and Europe, regions with low fertility rates but growing or stagnant populations overall. In some cities, population declines have also been exacerbated by economic contraction and natural disasters.
Between the years 2000 and 2018, there were a few cities in Japan and the Republic of Korea with declining populations. Since 2000, there has also been a population decline in a number of Eastern European cities, including Poland, Romania, the Russian Federation, and Ukraine. Emigration and low fertility are two factors that have contributed to some of these cities' smaller populations. In comparison to the previous two decades, fewer cities worldwide are anticipated to see their populations decline between now and 2030.
Since 1950, the world's rural population has grown slowly and is expected to peak in a few years.
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what is the person called on an agile team who gets to decide what goes on the sprint backlog and whether a task is done or not?
The person called on an agile team who gets to decide what goes on the sprint backlog and whether a task is done or not by Development Team.
An Agile team is a group of personnel, contractors, or freelancers answerable for executing an Agile challenge. Agile groups are commonly co-positioned and regularly thoroughly dedicated to the task during its timeline, with no duties to other tasks.
Agile embraces quick assignment timelines with a quick turnaround of attainable merchandise. commercial enterprise humans and builders have to paintings together day by day at some stage in the assignment. normal verbal exchange and interaction amongst all stakeholders are important to the assignment's achievement. construct projects around inspired people.
Groups that live real to the spirit of Agile are self-organizing. They divvy up work that desires to be carried out.
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jacob is updating his estate planning and wants to draft a legal document that leaves everything to his spouse. he is writing a(n):
Jacob wants to create a legal agreement that leaves everything to his spouse as part of his estate planning update. He is drafting a straightforward will.
A legal agreement is specifically a written instrument that spells out the roles and obligations of the parties to the agreement. The written document becomes enforceable once it has been manually, digitally, or electronically signed. Agreement or conformity are the meanings of the term accord. It frequently appears in legal, commercial, or political contexts where it is interchangeable with treaty and other phrases denoting formal agreements of a similar nature. Different Agreements, Grant. Cooperative Agreement, Contract, Memorandum of Understanding, Non-Disclosure Agreement, Teaming Agreement, Material Transfer Agreement, IDIQ/Master Agreement, Financial Assistance for a Specific Purpose or Specific Project without Expectation of Any Tangible Deliverables Other Than a Final Report.
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Which type of cheque is used to receive money physically from the branch where you hold the account?
Self-Cheques are used to physically receive money from the branch where your account is kept.
On a self-pay cheque, the payee is listed as "self." It is used by the issuer to withdraw money from their bank account. A self-check can only be cashed out at the issuer's bank. The safest and simplest way to write a check to oneself is to put your name on the "Pay to the order of" line and fill out the date, amount, and signature lines as usual. At your bank, sign the check in the space provided on the back, then show the teller your ID. You should be informed that the self-cheque can only be retrieved from the account holder's drawer or bank. Use caution when utilising a self-cheque because it could be lost.
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Do I need a sales tax exemption certificate in Texas?
Yes, an individual needs a sales tax permit to sell crafts Texas.
In the event that you sell available things at a fair, celebration, antique market, career expo, expressions and specialties show, firearm show or other kind of market or show, you might be responsible for collecting and remitting Texas sales and use tax. Contingent upon your business structure, you may likewise be answerable for covering franchise tax.
You should get a Texas sales and use tax permit in the event that you are an individual, organization, company or other lawful substance took part in business in Texas and you:
Sell tangible personal property in Texas;Rent or lease substantial individual property in Texas;Sell taxable services in TexasTexas forces a 6.25 percent state sales and use tax on all retail deals, leases and rentals of most products, as well as available administrations. Local taxing jurisdictions (urban communities, provinces, particular reason regions and travel specialists) can likewise force up to 2 percent sales and use tax for a most extreme joined pace of 8.25 percent.
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gordon company sold 2,000 more units than budgeted of its only product. how will total fixed cost be affected? a) remain constant. b) decrease by same percentage as sales increase. c) increase by same percentage as sales increase. d) decrease $2,000. e) increase $2,000. group of answer choices
The Correct option is A. Gordon company sold 2,000 more units than budgeted of its only product Due to remain constant.
A commercial enterprise budget is a spending plan for your commercial enterprise based totally on your earnings and expenses. It identifies your to-be-had capital, estimates your spending, and helps you expect revenue. A price range permits you to plan your business sports and can act as a yardstick for setting up economic goals. The three kinds of annual authorities budgets based on estimates are Surplus budget, Balanced price range, and Deficit finances.
Commercial enterprise finance is a top-level view of your enterprise’s budget. It outlines key data on both the modern-day nation of your finances (including earnings and costs) and your long-time period economic desires. because your price range will play a key position in making sound financial decisions for your enterprise, it must be one of the first duties you address.
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What are 3 differences between a bank and a credit union?
The primary differences between a bank and a credit union are in terms of ownership, services offered, and rates.
1. Ownership: Banks are owned by shareholders and exist to make a profit, whereas credit unions are owned by their members and are not-for-profit organizations. Credit unions are typically formed to serve a specific group of people, such as members of certain organizations or employers.
2. Services Offered: Banks generally offer a wide range of services, such as checking and savings accounts, investments, and loans. Credit unions usually offer a more limited selection of services, such as checking and savings accounts, and may not offer investment services or loans.
3. Rates: Banks may offer competitive rates on checking and savings accounts, but credit unions often have higher rates. Credit unions also tend to have lower fees, such as low or no monthly fees on checking accounts. Additionally, credit unions typically offer lower loan rates than banks.
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two oligopolistic firms forming a cartel will want to set a price so that the cartel produces a quantity that is _________ the allocatively efficient amount.
Two oligopolistic firms forming a cartel will want to set a price so that the cartel produces a quantity that is less than the allocatively efficient amount. Therefore, option (A) is the correct answer.
An oligopoly is a market condition with a small number of enterprises, none of which can prevent the others from wielding significant influence. Market share held by the largest companies is gauged by the concentration ratio.
Numerous industries have historically been oligopolies, including the production of steel, oil, railroads, tyres, grocery store chains, and wireless carriers. An oligopoly can prevent new competitors from entering the market, stifle innovation, and raise prices, all of which hurt consumers. This is a concern from an economic and legal perspective.
In an oligopoly, firms set pricing rather than relying on market prices, either collectively—in a cartel—or under the direction of one enterprise. Thus, profit margins are huge than in a highly competitive market.
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Complete question:
Two oligopolistic firms forming a cartel will want to set a price so that the cartel produces a quantity that is _________ the allocatively efficient amount.
A. less than
B. more than
C. the same amount as
D. one cannot tell.
matt's company spent billions of dollars to acquire the financial investment operations of a company in sweden. this would be an example of a blank scale entry. multiple choice question. broad small primary large
When Matt's company spent billions of dollars to acquire the financial investment operations of a company in Sweden, it is an example of a large scale entry. Therefore, the option D holds true.
A financial investment can be referred to or considered as a practice of monetary engagement in different classes of assets, which allows a person to divest the money with the primary intention of generating exponential amount of desired returns. Usually, a financial investment is done depending on the scales of amounts invested by the person or the individual.
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on march 1, miller company borrows $150,000 from high country bank by signing a 6-month, 8%, interest-bearing note. instructions prepare the necessary entries below associated with the note payable on the books of miller company. (a) prepare the entry on march 1 when the note was issued. (b) prepare any adjusting entries necessary on june 30 in order to prepare the semi-annual financial statements. assume no other interest accrual entries have been made. (c) prepare the adjusting entry at august 31 to accrue interest. (d) prepare the entry to record payment of the note at maturity.
The journal entries for the transactions affecting the borrowing of $150,000 by Miller Company are as follows:
Journal Entries:a) March 1: Debit Cash $150,000
Credit Notes Payable $150,000
(To record the issuance of a 6-month, 8% interest-bearing note.)
b) June 30: Debit Interest Expense $4,000
Credit Interest Payable $4,000
(To accrue interest for the semi-annual financial statements.)
c) August 31: Debit Interest Expense $2,000
Credit Interest Payable $2,000
(To accrue interest at maturity.)
d) August 31: Debit Notes Payable $150,000
Debit Interest Payable $6,000
Credit Cash $156,000
(To record the repayment of the note and interest.)
What are the journal entries?The journal entries are the initial records made for business transactions and adjustments to ensure the accounting records agree with the accrual concept.
The accrual concept states that only transactions affecting an entity in a financial period should be recognized or recorded whether they involve cash movements.
Transaction Analysis:Notes Payable = $150,000
Interest rate = 8%
Maturity period = 6 months
a) March 1: Cash $150,000 Notes Payable $150,000
b) June 30: Interest Expense $4,000 Interest Payable $4,000
c) August 31: Interest Expense $2,000 Interest Payable $2,000
d) August 31: Notes Payable $150,000 Interest Payable $6,000 Cash $156,000
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if the marginal propensity to consume is 4/5, then a decrease in government spending of $1 billion decreases the demand for goods and services by $5 billion. a. true b. false
If the marginal propensity to devour is 4/five, then a lower in authorities spending of $1 billion decreases the call for for items and offerings by $five billion.true.
The required details about marginal propensity is mentioned in below paragraph.
In economics, the marginal propensity to devour (MPC) is described as the percentage of an mixture boost in pay that a customer spends at the intake of products and offerings, in place of saving it. the marginal propensity to devour is a metric that quantifies brought on intake, the idea that the boom in non-public customer spending takes place with an boom in disposable profits. The percentage of disposable profits which people spend on intake is referred to as propensity to devour.
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the use of price discounts and coupons may erode the commitment of consumers to brand names. the use of price discounts and coupons may erode the commitment of consumers to brand names. false true
This is true that the use of price discounts and coupons may erode the commitment of consumers to brand names.
The competitive climate may be both an opportunity and a threat for any business. A comprehensive and adaptable tool called Brand Commitment (BCO) measures, in a very straightforward manner, the psychological ties that customers and users have with a brand, a product, or a service. We may use this model to anticipate the risk of switching to other brands and to estimate the potential brand potential.
There is more to the Brand Commitment Model than just a customer typology. The commitment index, a straightforward graph, captures sentiments in the entire category. The client may quickly evaluate how the own brands within the product category are performing on a certain market or among a certain target audience by comparing these numbers to the accessible benchmarks.
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mini blenders inc. has come up with a unit selling price of $10.00. their fixed costs are $15,000 for the year, during which 20,000 units are expected to be sold. a 20% profit margin on sales is included in the selling price. what is mbi's % profit on cost?
MBI's % profit on cost is $6.00.
MBI's unit variable cost is $6 per unit.
Unit Total Cost, using F1=10*(120%) =$8.00. UFC=$20,000/10,000=$2.00.
Therefore, UVC=$8-$2=$6.00
The profit margin is calculated with the selling price (or sales) taken as base times 100. it's miles the proportion of the selling price that is changed into profit, whereas "profit percent" or "markup" is the percentage of the price that one receives as income on top of the cost rate. even as selling something one ought to realize what percentage of income one will get on a particular funding, so companies calculate earnings percent to locate the ratio of income to cost.
The profit margin is used basically for inner assessment. it's far hard to appropriately compare the net profit ratio for distinctive entities. man or woman organizations' running and financing preparations vary a lot that one-of-a-kind entities are certain to have exclusive ranges of expenditure so that assessment of 1 with another can have little which means. A low-income margin indicates a low margin of protection: a higher danger that a decline in income will erase profits and result in an internet loss, or a poor margin.
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what business strategy is best supported by low formalization, low centralization and high specialization?
Low formalization, centralization, and high specialization are the optimal conditions for supporting an innovation strategy.
Low cost technique performs better with mild formalization and centralization.
The methodical discovery of unmet consumer requirements in a given market—and the decision of which unmet needs to prioritize for expansion—represent an innovation strategy. The business can increase market share or profitability by identifying and prioritizing unmet consumer demands through consistently successful product and service innovation.
There are four types of innovation strategies: proactive, active, reactive, and passive.
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Markets that operate under highly restrictive assumptions, such as a zero tax rate, zero transactions costs, and full information of all market participants, are known as what?
Markets that operate under highly restrictive assumptions, such as a zero tax rate, zero transactions costs, and full information of all market participants, are known as perfect market,
What is a perfect market?
Perfect market refers to a hypothetical market where buyers and sellers are so numerous and knowledgeable that there is no monopoly and market prices are unaffected by manipulation.
A hypothetical market system is referred to as perfect competition. Perfect competition offers a valuable model for illustrating how supply and demand influence pricing and behavior in a market economy, despite perfect competition seldom occurring in actual markets.
According to economic theory, perfect competition exists when all businesses sell the same goods, market share has no bearing on prices, businesses can enter or quit the market without any obstacles, consumers have perfect or complete information, and businesses are unable to set prices.
Therefore, "perfect market" refers to markets that operate under extremely limited assumptions, such as a 0% tax rate, zero transaction costs, and full disclosure of all market participants.
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jones corp. reported current assets of $194,000 and current liabilities of $137,500 on its most recent balance sheet. the working capital is:
Jones corp. reported current assets of $194,000 and current liabilities of $137,500 on its most recent balance sheet. the working capital is: 56000.
What is assets?In financial accounting, an asset refers to a resource owned and controlled by a company and entity. It is anything that can be used to create positive economic value. An asset shows the importance of an asset that can be converted into cash. An asset is anything that has present or future economic value to an enterprise. Essentially, business assets include anything that a business controls and owns that has current value or the potential to provide financial benefit in the future. The examples are patents, machines, and investments. An asset refers to a resource of economic value owned and controlled by an individual, firm with the expectation of future profit. Assets are reported on the company's balance sheet. They are classified as short term, fixed, financial and intangible.To learn more about assets from the given link :
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