The amount of use that the company expects to obtain from an asset before disposing of it is referred to as the service.
An asset is a resource having economic worth that a person, organization, or nation owns or manages with the hope that it may someday be useful. A company's balance sheet lists its assets. They are acquired or produced to raise a company's worth or enhance its operations.
Intangible assets like patents, royalties, and other intellectual property are included in the category of assets together with tangible items like machinery, real estate, raw materials, and inventory.
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