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

CA Final

★ 1K+

26-Mar-21 06:07

553

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.

Sahibdeep Singh

CA Inter

★ 14K+

26-Mar-21 11:03

Sahibdeep Singh

Great ... Thank you sir ð???

Thread Starter

Deepak Raja

CA Final

★ 1K+

26-Mar-21 14:15