TOTAL ASSETS Definition

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TOTAL ASSETS is the total of all assets; both current and fixed.

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SECURITY dependent upon usage is: a. a guarantee that an obligation will be met; b. defense against financial failure; financial independence; c. property that your creditor can claim in case you default on your obligation; or, d. a formal declaration that documents a fact of relevance to finance and investment; the holder of which has a right to receive interest or dividends, e.g. stocks and bonds.

EXISTENCE, in accounting, deals with whether assets or liabilities exist at a given date. For example, management asserts that finished goods inventories in the balance sheet are available for sale.

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