Assets are often classified into current assets,long-term investments,plant assets,and intangible assets.

Current Assets

Assets that are expected to be converted into cash, used, or consumed within one year or the operating cycle, whichever is longer.

Long-term Investments

Investments in securities or other assets that a company intends to hold for a period exceeding one year to earn revenue or profit.

Intangible Assets

Non-physical assets that have economic value due to their advantages or rights (e.g., patents, trademarks, goodwill).