Question

Across 2. The amount paid by a business for an asset owned.

Answer 1

For companies Assets are the things of value that sustain production and growth. For a business Assets can include machines, property, raw materials and inventory as well as intangibles such as patents, royalties, and other intellectual property.

Current Assets: Current assets are assets that can be converted into cash within one fiscal year or one operating cycle. Current assets are used to facilitate day to day operational expenses and investments.

Examples:

Cash and cash equivalents: Treasury bills, cash

Marketable securities: debt securities or equity that is liquid

Account receivables: Money owned by customers to be paid in short term.

Inventory: Goods available for sale or rawmaterial

Fixed Assets: Fixed assets are non current assets that a company uses in its production or goods, and services that have a life of more than one year. Fixed assets are recorded on the balance sheet and listed as property, plant and equipment. Fixed assets are long term assets and are referred to as tangible assets, meaning they can be physically touched.

Examples of fixed assets include:

Vehicles (Such as company trucks)

Office Furniture

Machinery

Building

Land