A business asset is a resource owned by a business that is expected to generate or provide a benefit (generally in the form of money). An example is a machine (resource) that produces products that are then sold (which generates benefits). Business assets are recorded on the balance sheet and can be classified as current, non-current, fixed, […]
The assets that cannot be quickly converted into cash or cash equivalents to pay for debts or short-term liabilities are known as non-current assets. These assets are not liquid by nature (in other words, they take longer to sell and realize their value into cash) and include long-term investments that cannot be used as a […]