ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Assets can be broadly categorized into current (or short-term) assets, fixed assets, financial investments, and intangible assets.

Detailed explanation-2: -Common types of assets include current, non-current, physical, intangible, operating, and non-operating.

Detailed explanation-3: -Cash and cash equivalents, certificates of deposit, checking, and savings accounts, money market accounts, physical cash, Treasury bills. Property or land and any structure that is permanently attached to it. Personal property-boats, collectibles, household furnishings, jewelry, vehicles.

Detailed explanation-4: -In short, yes-cash is a current asset and is the first line-item on a company’s balance sheet. Cash is the most liquid type of asset and can be used to easily purchase other assets. Liquidity is the ease with which an asset can be converted into cash.