assets and liabilities

USAGE SUMMARY

"assets and liabilities" is correct and usable in written English.
You can use this phrase to refer to the items on the balance sheet of a company or organization, which lists their assets (things of value owned by the company) and liabilities (what the company owes to others). For example, "The company's assets and liabilities amount to $1 million."

✓ Grammatically correct

Academia

News & Media

Science

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

There's assets and liabilities.

Yale University

Europeans hold huge external assets and liabilities.

The Economist

Assets and liabilities were each $25.5 billion.

The New York Times

There would be assets and liabilities.

The Guardian

Additionally, the interaction between assets and liabilities complicates the process.

Stress Testing and Risk Integration in Banks A Statistical Framework and Practical Software Guide (In Matlab and R)

But they had the same mismatch of assets and liabilities.

The New York Times

The company did not list its assets and liabilities.

The New York Times

NET WORTH STATEMENT This looks at your assets and liabilities.

The New York Times

Close readers of Enron's financial statements would have seen lines identified as assets and liabilities from price risk management in the assets and liabilities sections.

The New York Times

What were Intel's largest sources of deferred tax assets and liabilities?

Massachusetts Institute of Technology

The report was false and grossly misrepresented respondent's assets and liabilities.

Cornell University

Expert writing Tips

Best practice

Always use "assets and liabilities" in the context of financial reporting or balance sheets to maintain accuracy and avoid misinterpretations.

Common error

Avoid using "assets and liabilities" interchangeably with equity. Remember that equity represents the residual value of assets after deducting liabilities; it's not a synonym.

Linguistic Context

The phrase "assets and liabilities" functions as a noun phrase that identifies and categorizes the two primary components of a balance sheet. As Ludwig AI confirms, this phrase is correct and frequently used in financial contexts to represent a company's financial position.

Expression frequency: Very common

Frequent in

News & Media

39%

Academia

24%

Formal & Business

10%

Less common in

Science

10%

Encyclopedias

6%

Wiki

6%

Ludwig's WRAP-UP

The phrase "assets and liabilities" is a fundamental term in finance and accounting, used to describe the components of a balance sheet. As Ludwig AI confirms, it's correct and widely used. Ludwig examples show its frequent appearance in news, academic papers, and business reports. Understanding the distinction between assets (what a company owns) and liabilities (what it owes) is crucial for evaluating financial health. While the phrase is generally used in professional contexts, it is important to avoid confusing it with related concepts like equity. Related phrases such as "holdings and debts" or "financial obligations" can offer alternative ways to express similar ideas, but "assets and liabilities" remains the standard term in financial reporting.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

balance sheet items

Directly refers to the components listed on a balance sheet.

holdings and debts

Focuses on the specific items held and owed, rather than the overall accounting categories.

properties and financial obligations

Highlights the tangible assets (properties) and the financial responsibilities.

capital and debts

Specifically refers to capital assets in relation to debts.

possessions and obligations

Emphasizes ownership and duties, providing a more descriptive alternative.

credits and debts

Focuses on what is owed to the company versus what the company owes.

economic resources and claims

Uses more formal language to describe assets as economic resources and liabilities as claims against them.

resources and financial burdens

Highlights the positive and negative aspects of financial standing.

financial strengths and weaknesses

Broadens the scope to include an assessment of positive and negative financial attributes.

financial position

A more general term encompassing both assets and debts.

FAQs

How do I correctly use "assets and liabilities" in a sentence?

Use "assets and liabilities" when referring to a company's financial position, for instance, "The company's "assets and liabilities" are detailed in the annual report."

What are some alternatives to the phrase "assets and liabilities"?

Depending on the context, you might use "holdings and debts", "possessions and obligations", or "balance sheet items".

In accounting, what's the relationship between assets, liabilities, and equity?

Assets are what a company owns, liabilities are what it owes, and equity represents the owners' stake in the company, calculated as assets minus liabilities.

How do "assets and liabilities" appear on a balance sheet?

On a balance sheet, assets are typically listed on one side (usually the left), while liabilities and equity are listed on the other, ensuring that the equation (Assets = Liabilities + Equity) balances.