Assets are items owned by a business that meet two requirements: they must be owned by the business and have monetary value. To be considered an asset, an item must be exclusively possessed, used, and disposed of by the business, and a buyer must be willing to pay money to own the property.

1. What are Assets?
Items that are owned by the business are known as
Assets

2. In order for an item to be considered an Asset,
it must meet two requirements:
 It must be owned by the business
 It must have money value

3. Ownership
Is the exclusive right to possess, use, enjoy, and
dispose of property

4. Money Value
Exists if a buyer is willing to pay money to a seller for
property