BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An asset is anything that has current or future economic value to a business. Essentially, for businesses, assets include everything controlled and owned by the company that’s currently valuable or could provide monetary benefit in the future. Examples include patents, machinery, and investments.

Detailed explanation-2: -Long-term assets (also called fixed or capital assets) are those a business can expect to use, replace and/or convert to cash beyond the normal operating cycle of at least 12 months. Often they are used for years. This distinguishes them from current assets, which companies typically expend within 12 months.

Detailed explanation-3: -Operating assets are assets that are required in the daily operation of a business. In other words, operating assets are used to generate revenue from a company’s core business activities. Examples of operating assets include: Cash.

Detailed explanation-4: -Fixed assets, on the other hand, are noncurrent assets which a company uses in its business operations for more than a year. They are recorded on the balance sheet under the property, plant, and equipment (PP&E) category and include assets such as trucks, machinery, office furniture, and buildings.