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Is this an asset ?

Accountancy

What if I buy a bike and use it just for riding in streets for relaxation purpose ... Is this an asset since it has not generated any future economic benefits to me ?

Deepak Raja

CMA Inter

★ 1K+

26-Mar-21 06:07

255

Answers (2)

Best Answer

Definition given is from business perspective. On a lighter note, we can say it's your personal asset. When you purchased it, it had the capacity to generate future economic benefits and still can generate same.