What are some examples of assets and liabilities?

Here are a few examples of assets and liabilities: Balance Sheet: Assets and liabilities are two main components of a company’s balance sheet, which provides a snapshot of its financial position at a specific time. The total value of assets must always equal the total value of liabilities and equity.

What are assets and liabilities in a balance sheet?

The balance sheet (or statement of financial position) is one of the three basic financial statements that every business owner analyzes to make financial decisions. A balance sheet reports your firm’s assets, liabilities, and equity as of a specific date. But what are assets and liabilities and what sets them apart?

What types of assets and liabilities a business can have?

Let’s explore what kinds of assets and liabilities a business can have and how to categorize them. Everything your business owns is an asset—cash, equipment, inventory, and investments. Liabilities are what your business owes others.