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What is Called an Asset?

Today almost everyone knows what is asset but they don't have depth enough knowledge of what truly a asset is called?

So before going forward we want to solve this doubt at first.

In simple words An Asset is Something whichever put or brings Money to your pocket.

It can be anything but it must put money to your pocket and it's the first and final condition of an Asset.

Suppose you buy a party box and starting to give it on rent from day 1 and from that day you get regular rent on it so it's actually put money in your pocket. And after some time you will get back the money you invested to buy the box and from then all the rent money will be your true money which comes from your Asset, Box.

So it's so easy if you understand but at sometimes we get confuse about our asset and liability.

In Robert Kiyosaki's greatest book of all time "Rich Dad Poor Dad", it's clearly mentioned that whichever put money to your pocket is called an Asset.

And It's shouldn't be take money from your pocket then it's your Liability not Asset.

we will discuss later about the differences between Asset and Liability on our another Blog.

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