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What is meant by Assets and Liabilities?
Universityhomeworkhelp.com will ensure that you gain maximum knowledge related to any topic that you look forward to. In relation to any organization, assets are termed to be the fixed elements whereas; liabilities are referred to obligations that come from any transaction processes. Assets and liabilities assignment help emphasize on teaching you how to prepare balance sheet that would elaborate the assets of an enterprise.
An asset is known to be the economic resources that an entity possesses either tangible or intangible. The assets can either be owned or controlled to gain economic value.
- Tangible assets:
These are the assets that have physical identity and can be touched or seen. Such as machinery, inventories, property etc. You will learn in details when you opt for assets and liabilities homework help.
- Intangible assets:
There is no physical presence of such assets but are owned by the enterprise such as goodwill, patents, trademarks etc.
It is the debt obligation of any organization. They are regarded as the future obligations that can help to generate current benefits. There are two different types of liabilities:
- Current liabilities:
These are the liabilities that needs to be repaid within a year such as taxes, wages etc.
- Non-current liabilities:
While getting our assets and liabilities homework help, you will also learn about the long-term obligations that an enterprise encountered and it is known as non-current liabilities. Long-term bonds, long term leases are few examples of such liabilities.
Difficulties faced by students
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Usually the difficulty faced by the students is that they are unable to construct a balance sheet. It’s hard for students to manage asset and liabilities in accounting if not paid attention in class. Through our assets and liabilities assignment help it is possible to manage the problems and get better understanding on subject. We give enough explanations so that easy understanding is possible and grasp the concept.
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