Explain the difference between current, fixed, and intangible assets. Give two examples of each of these types of assets?

Current assets are the item that can be converted to cash within one year. They include account receivable and current inventory a company have.

Fixed assets are long-term assets that are relatively permanent such as land and buildings.

Intangible assets are long-term assets that have no physical form but do have value. Patents and copyrights are the example of intangible assets.

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