Hi everyone,
Can someone please explain to me the difference between these two? I thought Asset would comprise Property but then I noticed property is split into tangible and intangible properties. I was thinking property was part of tangible assets but now I’m confused.
Thank you in advance!
In: Economics
Houses and Boats are both property; things you can touch. The House is an asset as it is likely to provide future value. The Boat is a liability as it is likely to keep loosing money with value loss over time.
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