(Answered) Conceptual understanding concept of an assetconcept

Accounting

Conceptual Understanding: Concept of an Asset

ConCept Southwest Airlines Co. is one of the most successful airlines in the United States. One of its annual reports contained this statement:
We are a company of People, not Planes. That is what distinguishes us from other airlines and other companies. At Southwest Airlines, People are our most important asset.

Are employees considered assets in the financial statements? Why or why not? Discuss in what sense Southwest considers its employees to be assets.

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