EMS- Assets

Question 1

Non-current

Answer 1

Long term, >12 months

Fixed and financial

Question 2

Fixed assets

Answer 2

Tangible
Purchased by a business with the view of using them for more than a year.
Land and buildings, vehicles and equipment.

Question 3

Financial assets

Answer 3

Money invested for a certain period at a fixed rate.

Fixed deposit

Question 4

Current

Answer 4

Short term, <12 months.
Assets that can be converted to cash within one year.
Trading stock, debtors, bank, cash float and petty cash.