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'An asset may defined as a bundle of services' explain with an example?
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'An asset may defined as a bundle of services' explain with an example...
Definition of Asset as a bundle of services


An asset can be defined as a bundle of services that are expected to provide value to its owner. This definition implies that an asset should not be seen only as a physical object but rather as a collection of services that the object can provide.


Examples of Asset as a bundle of services


One example of an asset as a bundle of services is a car. A car can be seen as a bundle of services that include:



  • Transportation services - the car can be used to move people and goods from one place to another

  • Entertainment services - the car can have a radio or a CD player for entertainment during the ride

  • Security services - the car can provide a sense of security to its owner as it protects them from the weather and other hazards of the road

  • Prestige services - the car can be seen as a status symbol, providing its owner with a sense of prestige



Another example of an asset as a bundle of services is a computer. A computer can be seen as a bundle of services that include:



  • Information services - the computer can be used to access and process information

  • Entertainment services - the computer can be used to watch movies, play games, and listen to music

  • Communication services - the computer can be used to communicate with others through email, social media, and other platforms

  • Productivity services - the computer can be used to create and edit documents, spreadsheets, and presentations



Conclusion


In conclusion, an asset can be seen as a bundle of services that it can provide to its owner. This definition expands our understanding of assets beyond their physical characteristics and highlights the importance of the services that these assets can provide.
Community Answer
'An asset may defined as a bundle of services' explain with an example...
These are are goods belonging to a company. For instance, premises, machinery etc
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Read the following information and answer the given questions:Vibhuti, Tiwari and Happu were partners in a partnership firm sharing profits and losses in their capital ratio, i.e., 1 : 2 : 3. On 31st March 2020, they decided to dissolve the partnership firm. The following information is given to you on the dissolution of the firm: The firm had total assets of ₹ 12,00,000 that realized ₹ 10,80,000. The creditors were settled at 90% by paying them ₹54,000. There was an unrecorded asset in the books of the firm which was taken by Vibhuti for ₹ 12,000. Realisation expenses amounted to ₹ 2,000 and were paid by Tiwari on behalf of the firm. There was a general reserve in the books of the company of ₹ 21,000. The capitals of the partners were in the proportion of their profit sharing ratio. Their balance sheet also showed a cash balance of ₹ 81,000.Q. __________ account will be debited for the treatment of unrecorded assets given in case study.

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'An asset may defined as a bundle of services' explain with an example?
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'An asset may defined as a bundle of services' explain with an example? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about 'An asset may defined as a bundle of services' explain with an example? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 'An asset may defined as a bundle of services' explain with an example?.
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