Define the following with examples by

Asset

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What the business owns

Liability

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What the business owes

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Assets is something valuable own by business

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What the business owns

What a business owns

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Asset

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An asset is what the business owns this could be a current asset or a non current asset

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What a business owns

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What the business owes

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What the business owes

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The items that is owned by the business.

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Things a business owns

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what the business owns, either over a long period of time or for less than a year

What the business owns

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Something a person or business owns that has value or can make money.

rodiatakindele56 — 2026-01-08 14:27:48 UTC

Assets are things of value that a person, business, or organization owns or controls, which can provide future economic benefit.

skasimuk — 2026-01-08 14:28:04 UTC

assets are valuable items the business controls and can use or sell to generate income.

What the business owes.

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What is needed to start and run the business

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What the buisness owns

michelle_thornley1 — 2026-01-08 14:28:12 UTC

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items that the business owns, like equipment or stock

Liability is something that business owed

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Equity

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Brought into the company by the owner

Liability

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A liability is something you have to do basically liable to your own doing, such as a loan, you are then liable to have to pay that back making it a liability

What is owed by the business

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Assets

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Anything that a business owns

rodiatakindele56 — 2026-01-08 14:28:29 UTC

Liability means being legally or financially responsible for something.

Something that a business owes to others

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Assets are goods with monetary value a company owns, they can be either non-current or current meaning whether or not they're easily liquidable

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Something a person or business owes (a debt or obligation). Eg. A loan, credit card debt, mortgage, unpaid bills.

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The money the business has invested in the company

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debts to people or businesses, like a loan

skasimuk — 2026-01-08 14:28:44 UTC

liabilities are present obligations arising from past events, settled by transferring assets or providing services.

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Money put into the business by the owners to set it up

Paid in by the owner the start a buisness

michelle_thornley1 — 2026-01-08 14:29:01 UTC

Capital

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Capital is the whole amount of income that the business has basically the businesses net worth

Money or items that the owner gives to the business.

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The owner’s share or interest in a business after liabilities are deducted from assets.

rodiatakindele56 — 2026-01-08 14:29:29 UTC

it means the owner’s share or investment in a business after all liabilities are deducted.

Money/ valuables to start a business

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Anything that has been brought into the business by owner in cash or kind

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skasimuk — 2026-01-08 14:29:37 UTC

equity represents the net worth or ownership stake in the business.

2026-01-08 14:29:47 UTC

what is brought into the company through sales of a product or service

Liability

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In comparison to a asset a liability is the amount owed be it in the form of a short term loan or a mortgage

Liability

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Is something a company owes i.e a bank loan

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debts owed by a business to another organisation

Equity

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Is the amount a company holds as a sum of their debit and credit

The money that a business has

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Equity & Capital

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Equity & Capital are monies invested by the owner and are owed to the owner

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money brought in by the founder or the business, like investments

What is owed

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What the business owes

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Money put into a startup by the owners