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Assets vs Liabilities - What's the difference?

assets | liabilities |

As nouns the difference between assets and liabilities

is that assets is while liabilities is .

assets

English

Noun

(head)
  • English plurals
  • (finance) Any property or object of value that one possesses, usually considered as applicable to the payment of one's debts.
    • His assets are much greater than his liabilities.
  • (legal) Sufficient estate; property sufficient in the hands of an executor or heir to pay the debts or legacies of the testator or ancestor to satisfy claims against it.
  • Any goods or property properly available for the payment of a bankrupt's or a deceased person's obligations or debts.

    • liabilities

    English

    Noun

    (head)
  • (finance) An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments.