Do you know the difference between Assets and Liabilities?
Today we will share with you on the difference between the two. Watch Dr Accounting chapter 8 to learn more about the world of Accounting with us!
Welcome to Doctor Accounting chapter eight. In this series, I would like to share with you the difference between Assets and Liabilities.
Definition of Assets is Resources that business have. Liabilities is resources that business owe. Assets is financial resources. Liabilities, financial obligation. Classification in the balance sheet. Assets classified under non-current or current asset. For Liabilities is classified as non-current or current liabilities.
Example of assets will be is land, equipment. Example of liabilities is creditors and bank loan.
Thank you so much and hope to see you in my chapter nine.