<P> Depreciation is applied to tangible assets when those assets have an anticipated lifespan of more than one year . This process of depreciation is used instead of allocating the entire expense to one year . </P> <P> Tangible assets such as art, furniture, stamps, gold, wine, toys and books have become recognized as an asset class in their own right and many high - net - worth individuals will seek to include these tangible assets as part of their overall asset portfolio . This has created a need for tangible asset managers . </P> <Table> <Tr> <Th> Current assets </Th> <Th> Liquid assets </Th> <Th> Absolute liquid assets </Th> </Tr> <Tr> <Td> Stocks </Td> <Td> </Td> <Td> </Td> </Tr> <Tr> <Td> Prepaid expenses </Td> <Td> </Td> <Td> </Td> </Tr> <Tr> <Td> Bills receivable </Td> <Td> Bills receivable </Td> <Td> </Td> </Tr> <Tr> <Td> Cash in hand </Td> <Td> Cash in hand </Td> <Td> Cash in hand </Td> </Tr> <Tr> <Td> Cash at bank </Td> <Td> Cash at bank </Td> <Td> Cash at bank </Td> </Tr> <Tr> <Td> Accrued incomes </Td> <Td> Accrued incomes </Td> <Td> Accrued incomes </Td> </Tr> <Tr> <Td> Loans and advances (short term) </Td> <Td> Loans and advances (short term) </Td> <Td> Loans and advances (short term) </Td> </Tr> <Tr> <Td> Trade investments (short term) </Td> <Td> Trade investments (short term) </Td> <Td> Trade investments (short term) </Td> </Tr> </Table> <Tr> <Th> Current assets </Th> <Th> Liquid assets </Th> <Th> Absolute liquid assets </Th> </Tr>

Are loans and advances part of current assets