Asset facts for kids
In business and accounting, an asset is an economic resource that can be controlled by somebody (a person or an organization). They are made because of past transactions or events and they may help in getting future economic benefits.
There are two types of assets:
- tangible assets
- Fixed assets such as buildings, equipment etc.
- Current assets like inventory
- Intangible assets e.g. goodwill, patents, trademarks, copyright, computer programs
Assets have three important characteristics:
Asset Facts for Kids. Kiddle Encyclopedia.