Ahmed started in business as a newsagent on | April. The following information has been extracted from the business records of Ahmed at 30 April.

Money invested by owner 30000 Cost of goods sold 800 Required Which of the items represents an asset in Ahmed’s business? Are they fixed or current assets?

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Bank deposit account Loan from mother Telephone bill Rent paid Shop premises purchased Goods on display in shop at 30 April (at cost) Sales of goods during April Amount owed by customer at 30 April Amount owed to supplier at 30 April 3 100 10.000 200 300 35.000 1.800 1.500 1.500 1000