Current Asets - urgent

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Querist : Anonymous

Querist : Anonymous (Querist)

08 August 2010 Will current assets like debtor, cash at bank qualified to be an intangibe current assets? If yes, why?

Rahul Gupta

Rahul Gupta (Expert)
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08 August 2010 They are not intangible assets.
Intangible assets are those which can not be quantified easily and does not physically exist.

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srinath

srinath (Expert)
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08 August 2010 no never... they are current assets...

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Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2010 Please throw some more light on this.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 August 2010 Current Assets are tangible assets and not intangible assets.

Assets may be classified as under :

(a) Current Assets

Assets which are in the form of cash or convertible into cash easily are called current assets. Cash, Bills Receivable, debtors and stock are current assets.

(b) Fixed Assets

Assets in the form of immovable properties like furniture, land, building and Machinery are called fixed assets. These are not for conversion into cash.

(c) Intangible Assets

These are the assets which cannot be seen like goodwill, patents, etc

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