Your company had an income of $150,000. its beginning balance in assets was $1,750,000 and the ending balance was $1,850,000
a. 12%
b. 8.1%
c. 8.6%
d. 8.3%
were its return on assets.
In financial accounting, an asset is a resource owned or controlled by a company or entity. It is anything that can be used to create positive economic value. An asset represents the value of an asset that can be converted into cash.
Despite all this, cars are assets because they are readily available on the market and can be turned into cash for less than what you paid for. That alone, by definition, makes it an asset. It's these additional costs and constant depreciation that make a car worthless.
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