Flashcards
Assets
Cards in this deck (10)
- 1cashCurrency held on the premises of a business organization or
at a bank that are owned by the business organization. - 2accounts receivableCurrency owed to a business organization from its customers.
- 3notes receivableCurrency owed to a business organization from its customers
that are acknowledged with a signed written contract. - 4inventoryProducts held by the business organization that are planned
to be sold to customers. - 5prepaid assets (or expenses)Currency paid in advance by a business organization for a
service such as property insurance or a building lease. - 6investmentsReal estate, stocks and bonds held for investment purposes.
- 7Property, Plant and EquipmentLand, buildings and equipment used by the business
organization. - 8Intangible assetsItems that do not have a physical existence that provide a
business organization competitive advantage such as loyal
customers, copyrights, patents, trademarks, etc. - 9GoodwillAn 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. - 10suppliesProducts used by the business entity and not sold to
customers.