Question

Assets of a company may include a.personal property of the owners. b.cash, inventory, buildings, and equipment. c.the rights of creditors. d.All of these choices are correct.

Answer 1

Answer:

b.cash, inventory, buildings, and equipment.

Explanation:

The total assets classified into three types namely current assets, fixed assets and the intangible assets

The current assets involves cash, inventory, account receivable, prepaid expense etc

Fixed assets comprise of plant & machinery, land & building, equipment, furniture & fittings, etc.

And, the intangible assets include patents, copyrights, goodwill, and other intellectual properties.