Changing the way you learn

Question	Answer
cash	Currency held on the premises of a business organization or at a bank that are owned by the business organization.
accounts receivable	Currency owed to a business organization from its customers.
notes receivable	Currency owed to a business organization from its customers that are acknowledged with a signed written contract.
inventory	Products held by the business organization that are planned to be sold to customers.
prepaid assets (or expenses)	Currency paid in advance by a business organization for a service such as property insurance or a building lease.
investments	Real estate, stocks and bonds held for investment purposes.
Property, Plant and Equipment	Land, buildings and equipment used by the business organization.
Intangible assets	Items that do not have a physical existence that provide a business organization competitive advantage such as loyal customers, copyrights, patents, trademarks, etc.
Goodwill	An intangible asset that is obtained through acquiring another entity that provides a competitive advantage, in the market place such as a brand recognition, quality reputation, high employee morale, etc.
supplies	Products used by the business entity and not sold to customers.

Assets

	Created by MDcollege almost 11 years ago