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Home > Business & Careers > Accounting   »   Determining the asset type

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Old May 7, 2006, 09:55 AM
colenegarcia
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Determining the asset type
What type of assets are oil reserves, gold mines, and U.S. Treasury notes? Are they fixed, intangible, natural resources?

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Old May 7, 2006, 12:33 PM   #2  
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Quote:
Originally Posted by colenegarcia
What type of assets are oil reserves, gold mines, and U.S. Treasury notes? Are they fixed, intangible, natural resources?

Intangible assets are actual assets you can’t see, such as goodwill for buying a brand name company.

US Treasury notes would be fixed, as they have a maturity date, interest rate, etc.

Oil and gold mines would be natural resources, as they will eventually run out once you extract all the oil and gold from the locations.
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