An asset is a company's resource that carries economic value and can fetch a future benefit too. These are bought or created to boost a company's value or benefit its operations. Assets are reported on a company's balance sheet and can be classified as current, fixed, financial, or intangible.
Examples of assets:a. Current assets such as cash, inventory, prepaid expensesb. Fixed assets such as equipment, buildingsc. Financial assets such as stocks, bonds,d. Intangible assets such as copyrights, patents