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


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Bilal Hussain answered
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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