Asset probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events. An asset has three essential characteristics: It embodies a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflows; A particular entity can obtain the benefit and control others' access to it; and The transaction or other event giving rise to the entity's right to or control of the benefit has already occurred. What is Asset , What does mean Asset , Insurance Guide, Insurance Glossary


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