Give the meaning of assets and describes its classification?

1.	Give the meaning of assets and describes its classification?
Answer» Assets:-Anything which is the posssession or property of a business enterprise including the amounts due to it from other.Assets may be classified into two categories:-1)Non-current Assets.It is may be classified into two types :a)Tangible Assets and b)Intangible Assets2)Current Assets All those properties which belongs to a business is called assets.1.fixed2.current3.tangible4.Intangible Assets are valuable and economic resources of an enterprise useful in its operations.Assets can be broadly classified as:1. Current assets 2. Non-current assets a) Tangible assets b) Intangible assets

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