What is Assets in Accounting?
In accounting,
anything of value that a
person or firm buys. Assets
can be physical, such as real estate or stocks, a claim
on debts, such as
accounts receivable
or liens, or a
right, such as a patent. Of
crucial importance to assets is their relative liquidity, or the
ease with which they can be converted to cash. Liquid
assets are often thought to be more useful than illiquid assets.
From
http://financial-dictionary.thefreedictionary.com
