Assets

1. includes coins, currencies, checks, bank deposits, and other cash items readily available for use in the operations of the business.

1. are short-term investments that are readily convertible to known amounts of cash which are subiect to an insignificant risk to changes in value

1. are stocks and bonds purchased by the enterprise and are to be held for only a short span of time or duration. They are usually purchased when a business has excess cash.

amount collectible from the customer to whom sales have

been made or services have been rendered on account or credit

promissory note issued by the client or the customer in exchange for services or goods received as evidence of his/her obligation to pay

amount of interest collectible on promissory notes received from customers and clients

1. certain amount of money loaned to employees payable in cash or through salary deductions

1. income already earned but not yet received

1. represent the unsold goods at the end of the accounting period. This is applicable only to a merchandising business.

1. include supplies bought for use in the business or services and benefits to be received by the business in the future paid in advance.