Black Money Business Jobs : Financial terminology

Discussion in 'Black Money Business Jobs' started by Shikamaru, Aug 30, 2011.

  1. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    Wikipedia defines asset as:

    Assets REPRESENT ownership of value that can be converted into case.
    Assets are a placeholder, substitute for value.

    Bouvier's Law Dictionary (1856) defines asset as follows:

    Notice all the functionaries mentioned i.e. heir, executor, and administrator are synonyms for trustee. Assets are held in a trust corpus (body).

    In conclusion, what would be wealth?
    Wealth, as defined by me, is the surplus of assets over and above any outstanding liabilities an entity may possess. Assets can be converted into cash if and when needed.
     
  2. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    What is value? According to Wikipedia ....

    Value as defined by Bouvier's Law Dictionary (1856)

    Value is the worth or measure of a thing.

    In addition to the above definitions, we have the term valuation. From BLD (1856):

    Furthermore, there is the term assessment. From BLD (1856)

    Can a true value be ascertained if measured by a fluctuating medium of exchange?

    I assert that value can also be "pie in the sky". Case in point:

    One (1) oz. gold coin is valued at $10,000.
    Another (1) oz. gold coin is valued at $ 1,885.
    Spot price for gold at the time of this writing stands at approximately $ 1,835.80.

    What makes a 1 oz. gold coin valued at $10,000 more valuable than a 1 oz. gold coin valued at $ 1,855?
     
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