Assets and Liabilities Assignment Help
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What do we mean by active and passive?
AssignmentHelpServices will ensure that you gain maximum knowledge related to any subject that you are eagerly awaiting. Compared to any organization, the assets are qualified as fixed elements whereas; liabilities are obligations that arise from any transaction process. The allocation of assets and liabilities makes it possible to emphasize the teaching of the preparation of a balance sheet which would elaborate the assets of a company. An asset is known to be the economic resources that an entity has, either tangible or intangible. Assets can be owned or controlled to gain economic value.
- Tangible fixed assets - These are the assets that have a physical identity and can be touched or seen. Such as machinery, stocks, goods, etc. You will learn in detail when you opt for asset help and passive homework help.
- Intangible assets - There is no physical presence of such assets, but they belong to the company, such as goodwill, patents, trademarks, etc.
- Current liabilities - These are the liabilities that must be repaid in the year, such as taxes, wages, etc.
- Non-current liabilities - While getting our help with homework on assets and liabilities, you will also learn about the long-term obligations that a business has encountered and it is called non-current liabilities. Long-term bonds, long-term leases are some examples of such liabilities.
- Responsibility - It is the debt of any organization. They are considered to be future bonds that can help generate current profits. There are two different types of liabilities.
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