Question

Give the types of assets ??????

Answer 1

Answer:

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The several types of assets are :-

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1.Fixed Assets :-

These Assets are acquired for resale or conversion into cash as soon as possible.Cash in hand, cash at bank , debtors ,stock in hand ae the examples of Fixed assets.

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2.Current Assets :-

Current assets which can be converted into cash at a very ahort notice and without risk of loss are called liquid or quick assets.

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3.Wasting Assets :-

The fixed assets which have a limited useful life and depriciate rapidly are known as wasting Assets.

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4.Tangible Assets :-

These assets have a physical existence. They can be seen, touched and felt example - Plant and Machinery.

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5.Intangible Assets :-

These assets have no physical existence.Tgey cannot be seen or touched or felt example -Goodwill , patents and others.

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