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
Property is physical stuff that belongs to you. Houses, electronics, books etc. Some places may refer to this definition of property as “tangible assets” and use the word property to specifically mean land and buildings.
Assets are everything that belongs to you that’s got monetary worth. As well as “tangible assets” this can include stuff that you can’t see or touch but still has value,”intangible assets”.
Intangible assets includes stuff like owning stock in a company, having patents and other intellectual property, contracts that will earn you money and so on.
Latest Answers