What comes under assets and liabilities.

Question

Accepted Answer

Assets are resources owned by a company while liabilities are obligations or debts owed by a company.

Assets include cash, accounts receivable, inventory, property, and equipment.
Liabilities include accounts payable, loans, and accrued expenses.
Assets are listed on the left side of the balance sheet while liabilities are listed on the right side.
The difference between assets and liabilities is known as equity or net worth.

Accepted Answer

Most business owners have a basic understanding of how much their business owns and what it owes other people. In other words, they are aware of their basic assets (like their bank balance, inventory, and equipment) and liabilities (like account payables, loans, and debts).

Accepted Answer

Assets are 2 types

Current assets fixed assets

Current assets: cash bank

Fixed assets: furniture,machinery,land&building

Patent good will etc

Laibilites:

Current labilites

Debtors

Loans, capital etc

Accepted Answer

Assests-Machinery, furniture, building, cash at bank, investment, goodwill.   Liability - capital, loans, bills payable, rent, salaries, wages

What comes under assets and liabilities.

Top Infosys Junior Accountant interview questions & answers

Popular interview questions of Junior Accountant

Top HR questions asked in Infosys Junior Accountant