Changes

In [[accounting]], an '''asset''' is any resource owned by a business, having economic value or the expectation of future benefit. An asset can have ''tangible'' value, such as as cash, notes receivable, [[accounts receivable]], property, [[stock]], inventory, fixtures, business machinery, or ''intangible'' value such as property rights, patents, and goodwill.  

In [[accounting]], an '''asset''' is any resource owned by a business, having economic value or the expectation of future benefit. An asset can have ''tangible'' value, such as cash, notes receivable, [[accounts receivable]], property, [[stock]], inventory, fixtures, business machinery, or ''intangible'' value such as property rights, patents, and goodwill.  

Assets can be categorized in various ways: Monetary Assets are those that consist of cash or will be converted to cash. An example of a monetary asset is Accounts Receivable. Non-monetary assets are not normally converted to cash. Machinery and Equipment owned by a company are examples of nonmonetary or ''fixed'' assets.

Assets can be categorized in various ways: Monetary Assets are those that consist of cash or will be converted to cash. An example of a monetary asset is Accounts Receivable. Non-monetary assets are not normally converted to cash. Machinery and Equipment owned by a company are examples of nonmonetary or ''fixed'' assets.