eli5 what’s the difference between an asset and a liability ?

Question

Couldn’t get it while reading Rich dad Poor dad book

In: 1

Answer 1

An asset is an apple. You can sell the apple to someone in return for cash or other goods and services.

If you sold them two apples and you only had one and you took money for two apples and still owe them one, then the apple you owe them is a liability. They are liable to beat you if you don’t give them their other apple or their money back.