Is Cash A Temporary Account, Tangible Asset Or Intangible Asset
N o, Cas h is a Permanent Account as it is a Current Asset w hich has de b it b ala nce w hich is tra nsferred to b ala nce s heet o n asset side. So, it is considered as a Temporary Accoun t . Cash accou n t is not closed until t he b usi ness is closed or goes into liquidation. Is Cash A Tangible Asset Or A n Intangible Asset Cash is a Ta ngib le Asset as it has physical existe nce. It can b e physically see n and touc hed a nd it is acceptab le for excha nge of goods and services in Busi ness Transactions , or in general pub lic or in t he market. Examples include paper money, coins, etc.