What are items owned by a business that have value called?

Items owned by a business that have value are referred to as assets. This term encompasses a wide range of resources owned by the business that can provide future economic benefits, such as cash, inventory, buildings, machinery, and intellectual property. In accounting, assets are crucial for assessing the financial health and stability of a business; they are essential for operations and can be leveraged to grow the company.

In contrast, liabilities represent obligations that the business owes to others, such as loans or accounts payable. Investments typically refer to assets acquired with the expectation of generating income or appreciation, but not all assets fit neatly into this category. Equity reflects the ownership interest in the business after all liabilities have been deducted from assets, representing the net worth of the company. Thus, while liabilities, investments, and equity are important financial concepts, they do not accurately describe the broad category of valuable items owned by the business as directly as the term "assets" does.