EMS- Assets Flashcards
1
Q
Non-current
A
Long term, >12 months
Fixed and financial
2
Q
Fixed assets
A
Tangible
Purchased by a business with the view of using them for more than a year.
Land and buildings, vehicles and equipment.
3
Q
Financial assets
A
Money invested for a certain period at a fixed rate.
Fixed deposit
4
Q
Current
A
Short term, <12 months.
Assets that can be converted to cash within one year.
Trading stock, debtors, bank, cash float and petty cash.
