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Understanding Assets: Key Concepts and Examples

Learn about assets in accounting, including definitions, types, and examples. Discover how assets relate to capital and liabilities in the accounting equation.

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Understanding Assets: Key Concepts and Examples

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  1. Ptinciples of Accounts Project

  2. 梁婉玲 葉麗虹 黃鳳儀 劉秋儀 余紫薇

  3. Topic Assets

  4. Assets = Capital • In accounting, terms are used to describe things. The amount of the resources supplied by the owner is called capital. The actual resources that are then in the business are called assets. This means that the accounting equation above, when the owner has supplied all of the resources, can be shown as: Assets = Capital

  5. Assets = Capital + Liabilities Usually , someone other than the owner has supplied some of the assets. Liabilities is the name given to the amount owing to these people for these assets. The equation has now changed to: Assets = Capital + Liabilities

  6. What are Assets? Assets consist of property of all kinds, such as buildings, machinery, stock of goods and motor vehicles, etc. Also benefits such as debts owed by customers, the amount of money in the bank account and the cash at hand are included.

  7. Buildings

  8. Office equipment Goods Machinery Office equipment

  9. Q&A • Which is an example of Fixed Assets? a)buildings b)cash c)bank

  10. Your answer is right . Buildings is an example of Fixed Assets.

  11. Sorry !! your answer is wrong. The correct answer is a) buildings Don't forget it!

  12. Accounts web www.ouhk.edu.hk/pc.html

  13. End

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