Asset

Definition:

An asset is anything valuable that a person, company, or government owns, which  can help them earn money or gain future benefits. Assets help build wealth and improve

financial security.

Example:

For a person: A house, a smartphone, or savings in a bank.

For a company: Machines, a factory, and stocks.

How to identify an asset:

Look around your home and identify valuable items (like electronics or jewelry).

Consider any money you have saved or invested.

Types of Assets:

Fixed Assets: Things like a car or a house that are used for a long time.

Current Assets: Cash or items that can be sold quickly, like clothes or toys.

Financial Assets: Money in a savings account or stocks you own.