Print. The talus is a small bone that sits between the heel bone (calcaneus) and the two bones of the lower leg (the tibia and fibula). It has an irregular, humped shape like a turtle's shell. The bones of the lower leg ride on top and around the sides to form the ankle joint.
Notice the building was purchased using borrowed money. Although, the bank loan was used to buy the building, it's still considered an asset of The Toy Company. Our point is this, DON'T think of an asset (current or fixed) as something a business owns. Rather, view an asset as a resource that can be used to strengthen a business. Although, The Toy Company doesn't really own the building, it's still considered the company's fixed asset.
Assets are generally defined as things a company owns, which are expected to provide future benefits. There are two main types of assets: current assets and noncurrent assets. Within these two categories, there are numerous subcategories, or line items. . Current assets are things a business owns that are likely to be used up or converted into cash within one business cycle--usually defined as one year. The most common line items in this category are cash and cash equivalents, short-term investments, accounts receivable, inventories, and other various current assets.