What Are The Types Of Assets?

What Are The Types Of Assets?

1 Answer

  1. Assets can be classified into the following types:
    1. Fixed Asset or Non-current Asset: These are long term assets which are expected to provide benefits to business over a long period of time (greater than 1 year)
    Example: Land, Equipment, Machinery, etc
    2. Current Asset: These are short term assets expected to be consumed within a years time.
    Examples are cash and cash equivalents, inventory, etc

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