Comparing Assets and Liabilities: What’s the Difference?

Assets and liabilities are two of the most important concepts in accounting and finance. They are often confused, but understanding the difference between them is essential for managing your finances. Assets are items of value that you own, such as cash, investments, and property. Liabilities are debts or obligations that you owe, such as loans, credit card balances, and mortgages. Knowing the difference between assets and liabilities can help you make informed decisions about your financial future.

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