Assets this, liabilities that!
The two terms get thrown a lot quite a bit on television, online and so on. But what are assets anyway? What about liabilities?
In one minute, I did my best to not just define assets and liabilities but also explain then in an easy-to-understand manner. Also, by comparing assets and liabilities, the similarities as well as differences should become blatantly obvious.
Way too many people make mistakes when it comes to so-called "easy peasy" terms such as assets and liabilities. Don't be one of them... just don't :)
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