Economic resources owned by a company or individual that have measurable value and can be used to generate future benefits.
Assets refer to valuable resources owned by a company that can generate economic benefits. These resources can include physical items like cash, inventory, and equipment, as well as intangible items such as intellectual property and customer relationships. Assets are crucial for business operations and can contribute to the overall value and financial stability of a company. By effectively managing and leveraging their assets, small business owners can optimize their financial performance, attract potential investors, and make informed decisions for growth and profitability.