Definition: In accounting, "wantages" refers to assets and liabilities that are not due for payment or consideration. These items can be either financial assets such as accounts receivable or long-term investments, or non-financial assets such as intangible assets or goodwill. Wantages are important in the context of accounting because they allow companies to identify potential liabilities early on in the process of assessing their financial position and making decisions about how to manage those liabilities.
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