Author: William Harris

An asset transfer agreement is a legally binding contract that is done between two parties that are involved in transferring and buying an asset.

When a business is going to dissolve or close, the assets of the business must be sold out for paying its creditors.

A brand asset plays a crucial role in a business by communicating its identity all over the world and to potential customers that helps a business to spread crossway the world.

Prepaid rent is an advance payment made to the landlord or a property owner by the tenant for using a property for a specified time.

The right of use asset is a lease that allows someone to use an asset over a lease life. The amortization period is started from the commencement

Personal assets are assets that have present or future value and are acquired by an individual or household. Personal assets can be anything that has some cash value.

A higher asset turnover ratio indicates the best performance and utilization of assets to generate sales while a lower asset turnover ratio shows bad performance and low sales.

A capital asset is something that a business acquires for more than one year and it is not intended to sale in the normal part of the business operations.

An insurance policy that provides cash value components can be considered an asset but a life insurance policy that does not allow cash value component is not an asset.

Prepaid insurance is an asset and recorded in the balance sheet as a current asset because normally insurance is made for a short period such as a year

The account receivable is means of outstanding payment that is yet not paid by clients to the company for goods or services that the company has provided on the credit.

Some businesses make revenue from their production or manufacturing and some businesses make revenue by offering their services to the clients.