505313
| Question | Answer |
| cash | Currency held on the premises of a business organization or at a bank that are owned by the business organization. |
| accounts receivable | Currency owed to a business organization from its customers. |
| notes receivable | Currency owed to a business organization from its customers that are acknowledged with a signed written contract. |
| inventory | Products held by the business organization that are planned to be sold to customers. |
| prepaid assets (or expenses) | Currency paid in advance by a business organization for a service such as property insurance or a building lease. |
| investments | Real estate, stocks and bonds held for investment purposes. |
| Property, Plant and Equipment | Land, buildings and equipment used by the business organization. |
| Intangible assets | Items that do not have a physical existence that provide a business organization competitive advantage such as loyal customers, copyrights, patents, trademarks, etc. |
| Goodwill | An intangible asset that is obtained through acquiring another entity that provides a competitive advantage, in the market place such as a brand recognition, quality reputation, high employee morale, etc. |
| supplies | Products used by the business entity and not sold to customers. |
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