true or false, an asset is anything of value that can be converted into cash.?

Answer 1

Yes unless you are calling a person an asset, such as a team member.

Answer 2

False!
I have a number of assets in my store but not possible to convert into cash. Even the banks never give me loans when i ask for as i cannot mortgage them! Nobody can buy them! But they are assets.

Answer 3

yes I believe it to be true, however I disagree with a team member not being an asset, if the player is that good it does bring in revenue by their personality and talent. And also workers who are assets to their company, their great work will keep company's up and running and bring in the revenue.

Answer 4

FALSE! In accounting, there are a few assets that have a value that can't be converted. These are called intangible assets. Intangible assets lack physical substance and usually are very hard to evaluate. They include patents, copyrights, franchises, goodwill, trademarks, trade names, etc.

Answer 5

I'm not certain. The inverstordictionary (link) says no. Someimes we also call aperson an asset. But I believe it depends on what you mean by "converting into money"

Answer 6

semi-true. but you really need to use the banking term of "asset" in this day and age. Just because you may have a signed babe ruth rookie card, doesn't mean that anyone would be willing to accept it as colateral for a loan.

Answer 7

Depends upon what you're talking about. In pure accounting terms, that's correct. However, I would say that amongst my best assets are my sense of humor, my blue eyes, and my laugh. Can't sell those!

Answer 8

talent is an asset and it can make you some cash. I guess, any asset, concrete and not so concrete, can be converted into cash any how.

Answer 9

an asset is anything of value to you so it is yes and no as weather you can get money for it

Answer 10

Definitely True.