These are examples of assets not normally easily disposed of. Key Takeaway: Formally, if an asset isn't expected to be cashable within a year, it isn’t considered a current asset. In business, a ...

In simple words, an asset is something of value that you own and can convert to cash. Your car is an asset and so is your house because you could sell either one and receive its value in cash.

Assets refer to resources that can be converted into cash. Learn how assets work, the various types of assets, how to determine an asset's value and more.

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