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WebJan 15, 2024 · Assets are all that a company owns. It can include patents, production equipment, inventories, etc. Liabilities are all that a company owes. It can be trade debts, workers' wages, taxes, and dividends. Companies have current and non-current assets/liabilities. The current ones mean they can become cash or be paid in less than a … WebMar 13, 2024 · If assets are classified based on their convertibility into cash, assets are classified as either current assets or fixed assets. An alternative expression of this concept is short-term vs. long-term assets. 1. Current Assets. Current assets are assets that can be easily converted into cash and cash equivalents (typically within a year). dlc 2 cheat army
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