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Definition: What is it?

Assets are items of value that are owned by the business. They are shown as Balance Sheet accounts. There are different type of assets - fixed, current, intangible. Examples of assets include furniture. computer equipment, bank accounts and goodwill.

Fixed Assets are assets that are generally not going to be converted to cash within a year so examples would be plant equipment or vehicles.

What is it used for?

TO DO:

What's on the screen?

TO DO: