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LEARNING OBJECTIVES
1. Identify the purposes and uses of assets.
2. Identify the types of assets.
3. Explain the role of assets in personal finance.
4. Explain how a capital gain or loss is created.
As defined earlier in this chapter, an asset is any item with economic valu
cash. Assets are resources that can be used to create income or reduce exp
The following are examples of tangible (material) assets:

Verified Answer :

GinnyAnswer

Final answer:

Assets are valuable objects owned by organizations and individuals, categorized into current and long-term types. Earnings from assets can be through flow benefits like dividends and capital gains.


Explanation:

Assets are objects of value owned by an organization, classified into current and long-term categories. Examples include currency, stocks, real estate, and more. Earnings from assets can come in the form of flow benefits (e.g., dividends) and capital gains (price appreciation).


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