Real Estate—generally understood to include land and buildings owned and used in the business.
Furniture and Fixtures—represented by office and store furniture, shelving, counters, stoves, furnaces or other heating appliances, lighting fixtures.
Horses and Wagons or Trucks—including all horses, wagons, trucks, harness, or motor-cars used for hauling goods.
If the business is one in which these classes of property are dealt in, they become active assets. Land, for example, would be one of the active assets of a business organized to buy and sell real estate.
50. Examples of Floating Assets. The active or floating assets of a mercantile business are:
Merchandise—meaning the stock in trade or goods dealt in.
Accounts—the open accounts of customers who owe for goods purchased.
Notes or Bills Receivable—all outstanding notes payable to the firm.
Cash—the amount of cash on hand and in the bank.
51. Examples of Passive Assets. Passive or speculative assets are more frequently found on the books of a manufacturing business, a corporation, or a business a part or whole of which has been sold by the original owners. Examples of these assets are: