Asset & Liability... Your Opinion!

**Young Spark** · 08-12-2007 12:43 AM

NOW... before anyone thinks we're going to speak exactly about homes, we aren't.

I'd like to hear everyone's response to one question: Is a informational book considered an asset or liability?

Many people would say asset because it teaches you many things and can produce monthly income if its a informational book that allows you to put forth that knowledge in earning POTENTIAL INCOME.

Some would say liability because of course, it is not guarantee'd to make you any money, its solid information but what really makes it an asset?

My take is that its an asset!

Rules to Reply:

1. SIMPLE... Do not argue, if you beg to differ, then state it and why you beg to differ but I just ask, please don't turn this topic upside down. I just would like to know everyone's opinions.

**clp11479** · 08-12-2007 01:08 AM

learn what a liability is. your post is foolish to anyone who took finance 101

**Young Spark** · 08-12-2007 01:44 AM

Anybody with common sense knows what a liability is, I think you just posted to be posting CLP. A liability is something that takes money out of your pocket. In a sense, do you not have to pay for informational books, do you not have to BUY books? Right or wrong?

Therefore, the question stands: is it an asset (something that could possibly provide potential income) or a liability (something that is taking money out of your pocket, simple as that.)

**clp11479** · 08-12-2007 03:33 AM

no u clown.

cash is an asset. u buy an e-book u lower ur cash (i.e. decrease ur cash asset) and increase ur "equipment" asset for the e-book. liability is nowhere to be found in the equation.

i think u r posting just to post, and stupid posts at that.

**imkite** · 08-12-2007 04:01 AM

Originally Posted by Young Spark

Therefore, the question stands: is it an asset (something that could possibly provide potential income) or a liability (something that is taking money out of your pocket, simple as that.)

A liability implies a responsibility or an obligation. While the book(s) in question did not breach a contract or run over your dog. The book itself carries no obligation or holds no guarantee if it did liability would fall on the author and/or publisher.

With that in mind, an "asset" is something which has a monetary value. You might insure an asset, or pay taxes on it, you would leave it in your Will to someone in your family. While a book might be a credit to your success (or not) calling it an "asset" is a bit of a stretch. Remind me again if this is about any book in particular or just all books in general?

Not trying to split hairs here, I see where you were going with the question. Next time try to fight the urge to post something unless it is worth the bandwidth and the time. I actually thought the title sounded interesting instead its this fancy pants hypothetical Oprahs book club crap.