Financial Assets and Financial Transactions
1.1. What is the financial asset?
Claim against the income or wealth of an economic unit (business firm, household, and unit of government), i.e., Money, equities, debt securities.
1.2. Types of Financial Assets
Money
Equities
Debt securities
A. Money
Generally accepted in payment for purchasing of goods and services.
Checking account, currency, and coins.
Perfectly liquid asset
B. Equities (Preferred stocks and Common Stocks)
Ownership shares in a…
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