What are the different types of assets?

What are the different types of assets?

Assets can be classified into several categories, including current assets, fixed assets, tangible assets, and intangible assets.

Can you explain what current assets are?

Current assets are assets that are expected to be converted into cash or used up within one year, like cash, inventory, and receivables.

What about fixed assets?

Fixed assets are long-term assets that are not easily converted to cash, such as property, plant, and equipment.

What are intangible assets?

Intangible assets are non-physical assets, like patents, trademarks, and goodwill, that provide value to a company.