Assets 4
Assets 4 : These include all the things of value that are owned by, or due to a business. Alternatively, they represent the business' use of funds. Assets are of the following types: Current Asset - An asset, temporary in character, which in the normal course of business would readily be converted to consume in the production of income, usually within a Year Examples include cash, prepayments, accounts receivable and inventories. Fixed Asset - A tangible long-term asset which is held for use rather than for sale in the normal course of business. Fixed rather than for sale in the normal course of business. Fixed assets would include items such as land, buildings, machinery, furniture and fixtures, and vehicles. Intangible Asset - An asset which has no physical substance. Examples are goodwill, patents and copyrights
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