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Explain the differences between current and non-current assets and give an example of each.

Explain the differences between current and non-current assets and give an example of each.

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Current assets are those assets which can be converted into their monetary value within a short period of time. Example of current assets are cash and equivalents, accounts receivable, inventory etc

Non current assets means those assets which cannot be converted into their monetary value within a period of one year. Examples are long term investment, tangible fixed assets, intangible fixed assets etc

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