# Asset - Liability Asset and liability are accounting notions that connect [Agent](/agent.md)s across time. A liability entry in my ledger is an asset entry in yours. Your present right is my promise and future obligation. Accounting protocol serves us by organizing our pasts but our futures too. In the economic space protocol an asset is a transferable and divisible smart contract that encodes the ownership on a set of rights, that may trigger a network performance. See [Network asset](/network-asset.md). See [Accounting](/accounting.md). See [Token](/token.md). --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://glossary.ecsa.io/asset-liability.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.