Fin 419 week 3 complete (finance for decision making) a+ graded
Assets are resources owned by an individual or organization that can be used to produce income or increase wealth. Examples of assets include cash, investments, real estate, inventory, and equipment. Liabilities are obligations or debts incurred by an individual or organization which must be repaid over time with money or its equivalent. Examples of liabilities include loans and credit card debt. Assets represent the resources available to a person/organization while liabilities represent the claims against those same resources.