What is Tangible Assets.

What is Tangible Assets. Give some example of it.

Your Answer

Tangible Assets refers to assets that can be held or seen and that are capable of being appraised at an actual or approximate value.Tangible assets include both Fixed assets and Current Assets .For instance:
Fixed Assets: Assets which are purchased for long-term use and are not likely to be converted quickly into cash.
Examples: Land & Building, Plant & Machiney, Furniture, Fixtures & fittings, Loose Tools. These often receive favorable tax treatment (Depreciation)
Current Assets: A current asset is cash or any asset that can be reasonably converted to cash within one year.
Examples:Inventory, Cash in hand, Cash in Bank, Pre-paid expenses,Accounts receivables, short term investments

0
Forum   Other Related Discussions
Accounting

Didn't get the answer.
Contact people of Talent-Accounting directly by clicking here