Current Asets - urgent
Querist : Anonymous
Intangible assets are those which can not be quantified easily and does not physically exist.
Querist : Anonymous
Assets may be classified as under :
(a) Current Assets
Assets which are in the form of cash or convertible into cash easily are called current assets. Cash, Bills Receivable, debtors and stock are current assets.
(b) Fixed Assets
Assets in the form of immovable properties like furniture, land, building and Machinery are called fixed assets. These are not for conversion into cash.
(c) Intangible Assets
These are the assets which cannot be seen like goodwill, patents, etc
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