These resources are known as assets, and represent the things of value that the company owns.
There are financial assets such as Cash in the bank and Account Receivables (amounts owed to the company). There are also non-financial assets, such as machinery and office furniture. Also there are Intangible assets defined as identifiable non-monetary assets that cannot be seen, touched or physically measured, which are created through time such as Goodwill.
ASSET AND LIABILITY The business assets can be obtained from money contributed to the business by its owners to expand operations. Borrowing from a bank also creates an asset (Cash) and also a liability (note payable). The business also incurs an asset (Inventory) and a liability
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