Brandon owes his brother $120. He has a stamp collection worth $1,250 and he has $300 in a bank account. He also has a skateboard worth $95.Which are Brandon’s assets?

Assets are things Brandon owns that have value. His stamp collection is worth $1,250, his bank account contains $300, and his skateboard is worth $95, so all three are assets. The $120 he owes his brother is a liability, not an asset.

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