FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Define Book value.

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Asset

Asset refers to an economic resource that an entity or an individual holds for gaining future economic benefits out of it. 

The assets are shown on the company’s balance sheet and benefit the operations of the firm or increase its value. Assets can be of different types, majorly classified into two categories i.e. current and non-current assets based on the period of time in which they are realized.

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