A limited liability company, or LLC, is its own entity and can possess assets, property, and liability. This allows you shield your personal assets from the assets of the limited liability company.
Liability
Assets- Liabilities = Owners Equity :)
accounting equation assets = liabilities + capital so if assets increases either liability or capital will increase for this purpose 1. assets means both long term assets and short term assets 2. capital means owners equity 3. liability means outsliders liability
purchase return is assets or liability or expense
assets
It is assets
Net assets
NO! The accounting equation isAssets = Liability + Owners EquityTherefore if you want to change the formula around the following would be correct.Liability = Assets - Owners EquityorOwners Equity = Assets - Liabilities
Intangible assets are assets like other assets just they cannot be seen by eye or feel by hand but as they are assets they are included in assets and part of liability.
Assets
Unlimited