Question

What are Current assets, Tangible assets, Intangible Assets and Fixed Assets ?



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Answer 1

Answer:

An asset's useful life is the duration it adds value to your business. Generally, assets lose value after a year. Tangible assets can be further broken down into two categories: current and fixed. Current assets are liquid items that can easily be converted into cash within one year.

Answer 2

Answer:

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One can classify assets into two major asset classes: tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, accounts receivable, while fixed assets include buildings and equipment.

Explanation:

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