Are assets mainly used for the scenario of selling a business or buying a business? Because they need to calculate their worth ?

1 Answer

Relevance
  • 1 month ago
    Favorite Answer

    No.

    An asset is something OWED the has value.

    The computer/phone you are using is an asset, if you don't have debt on it (or the equity is greater than the debt).

    Your shoes are an asset, if you can sell them for any money. 

Still have questions? Get your answers by asking now.