Assets are the resources of a business organization that were acquired in a market transaction and that will provide future economic benefits to the organization. It is important to understand the distinction between assets that are recorded and those that are not. The definition of assets above reflects two criteria: they (1) were acquired in a market transaction, and (2) will provide future economic benefits to the corporation.
Details
- Publication Date
- May 28, 2013
- Language
- English
- Category
- Education & Language
- Copyright
- All Rights Reserved - Standard Copyright License
- Contributors
- By (author): Homework Help Classof1
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- Format