The equipment a firm owns and the money it has in its bank account are considered assets.

Name: The equipment a firm owns and the money it has in its bank account are considered assets.
Brand: Quizplus
Rating: 4.9 (39 reviews)

Question

Quizplus · Accepted Answer

Firms hold current assets and fixed assets. Cash, accounts receivable, and inventory are examples of current assets. Property and equipment are examples of fixed assets. Typically, fixed assets have an estimated useful life, whereas current assets are used up within a year's time.

The Equipment a Firm Owns and the Money It Has