What do we call resources with economic value that are owned by a company?

Resources with economic value that are owned by a company are referred to as assets. Assets are fundamental to a business's financial health and can include cash, inventory, property, equipment, and accounts receivable, among other things. The primary characteristic of assets is that they are expected to bring future economic benefits to the company.

Assets are typically classified into various categories, including current assets (which are expected to be converted into cash within a year) and non-current assets (which are long-term and not expected to be liquidated in the near future). Understanding the role of assets is crucial for evaluating a company's performance, its capacity to generate income, and its overall financial stability. By correctly identifying and managing its assets, a company can effectively plan for growth and operations.