ASSET Definition

Bookmark and Share

ASSET is anything owned by an individual or a business, which has commercial or exchange value. Assets may consist of specific property or claims against others, in contrast to obligations due others. (See also Liabilities).

Learn new Accounting Terms

COMPOUND INTEREST PRINCIPLE is where the interest is computed on principal plus interest earned in previous periods.

STABLE MONETARY UNIT CONCEPT allows accountants to ignore the effect of inflation in the accounting records.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.