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Simple English definitions for legal terms

financial asset

Read a random definition: standby charge

A quick definition of financial asset:

A financial asset is something that you own that has value, like money in the bank or stocks. It's listed on a balance sheet along with other things you own, like property or equipment. Some financial assets can be easily turned into cash, while others are harder to sell. They're important because they help you understand your financial situation and can be used to pay off debts or distribute to heirs.

A more thorough explanation:

A financial asset is an item that has value and can be owned. It is listed as a current asset on a balance sheet and includes things like cash, inventory, equipment, real estate, accounts receivable, and goodwill. Financial assets can be used to produce goods or services, or they can be readily converted into cash.

Examples:

  • Cash
  • Stocks and bonds
  • Accounts receivable
  • Real estate

These examples illustrate financial assets because they are items that have value and can be owned. Cash is a financial asset because it can be used to purchase goods or services. Stocks and bonds are financial assets because they represent ownership in a company and can be sold for cash. Accounts receivable are financial assets because they represent money owed to a company by its customers. Real estate is a financial asset because it can be sold for cash or used to generate income.

Financial Accounting Standards Board | financial contract

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im so dumb its literally Saturday
bbq it is
law school has made me unaware of the days of the week
me too, me too
amlaw
17:40
do you guys want to hear my newest irrational fear
[] ararara
18:18
That you have so much fun tonight dancing after the sun goes down you fall in love but way too hard and your heart pops!
[] ararara
18:19
Hi wherever you are hope you have a great Saturday! Stay hydrated!
hydrating! 👹
[] ararara
19:12
Hahah lolll show those fools your dance moves!! I am actually about to start working until about 4 in the morning so I can go out of town Tuesday so avenge me!
[] ararara
19:12
I came face to face with an Amazon worker on prime day though and that was crazy. Don’t think I’ll ever forget that. They looked completely drained it was insane.
rip to that young lad, wishing them hydration and days off from work. don’t work yourself too hard ara! chronic stress kills!
[] ararara
19:16
Thanks wasp right back at you! You too! This work is really interesting! It’s one of three jobs where it’s been hard to stop before school starts for sure.
babybunny
22:59
you have to be the art hoe gf u want to see in the world
willing
manifestmoreadmissions
0:24
bunny i am trying so hard idk if i can cut it
amlaw what's your fear
amlaw
10:02
that i got rejected from washu and just didn't see the email even though i've checked my spam and everything because they don't change their portals at all
that sucks :(
amlaw
10:36
and i know its crazy lol
hahaha yes it is crazy lol
babybunny
15:03
Heard Biden dropped out of the race. Made me remember when you said bye den dropped out of my life. You'll always be my first choice nominee. No need to text back
amlaw
15:03
i have never fully comprehended any of your messages bunny
when you said bye den dropped out of my life
i have a 3.38 and hope to get a 175+ on the LSAT
Does anyone know which schools place in federal positions outside of T14? UT,SMU, TAMU, George Mason, George Washington, ASU)
odds for sls waitlist this cycle?
Justvibin123
18:33
Who ever is accepted at Wayne state and is not attending can you please withdraw your app 🥹
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