Economic resources owned by a business. Assets are tangible or intangible, current or long term. One of the five types of accounts in the accounting system. Assets are balance sheet accounts or permanent accounts because they appear on the balance sheet.« Back to Glossary Index
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About Jeff Mankin
Jeff Mankin is a professor in Nashville, Tennessee. He writes and develops online courses at his website FinallyLearn.com.
He is a fan of the Tennessee Volunteers and the Nashville Predators.