What is The Main Purpose of Assets Get link Facebook X Pinterest Email Other Apps August 13, 2019 The Main or Primary Purpose of Assets is to show the resources owned and controlled by the entity during the life time of a business. These provide probable future economic benefits that will flow to the business over time. Types of Assets include Current Assets, Non Current Assets / Fixed Assets and Contingent Assets. Assets are used in the business to operate the business operations such as Furniture, Plant & Machinery, Office Equipment, etc Assets are equal to Liabilities plus Equity as shown by the Accounting Equation shown below: Assets = Liabilities + Equity Get link Facebook X Pinterest Email Other Apps Comments
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