What is not considered an asset?

The correct answer is that ideals are not typically classified as assets in the same way that property and people are. In the context of asset management and accounting, assets are defined as tangible or intangible resources owned by an entity that are expected to provide future economic benefits.

Property is a prime example of a tangible asset because it comprises physical items that have value, such as real estate or equipment. People can also be considered assets, particularly in a business context, as human resources contribute to the operational success, skills, and intellectual capital of an organization.

Ideals, while they may hold significant intrinsic or cultural value, do not have quantifiable economic benefits and are not owned or controlled in the same manner as property or people. They are abstract concepts or beliefs that influence behavior and decision-making but do not fit the conventional definition of an asset used in financial accounting or business operations.