Write any two items of assets.

Assets are economic resources owned by a business that are expected to provide future economic benefits. Here are two common examples of assets:

1. Fixed Assets (Non-Current Assets)

   • Land and Building: These are long-term assets used for business operations. They are not meant for resale but provide long-term benefits.
   • Machinery and Equipment: These are tangible assets used in production or service delivery, such as computers, factory machines, or office equipment.

2. Current Assets

   • Cash and Cash Equivalents: This includes money in hand, bank balances, and short-term investments that can be easily converted into cash.
   • Accounts Receivable: These are amounts owed to the business by customers for goods or services sold on credit. They represent future cash inflows.