A balance sheet is a versatile document that offers ... inventory and other things that could easily be converted into cash — and fixed assets — buildings, machinery, long-term loans to ...

Other assets that appear in the balance sheet are called long-term or fixed assets because they're durable and will last more than one year. Examples of long-term assets include the following.

Balance Sheet The balance sheet provides a snapshot ... owed to the business by customers who have purchased on credit. Fixed assets. These are the tangible assets of a business that won't be ...