Classify Each of the Following Items into One of the Seven

question 13

Essay

Classify each of the following items into one of the seven categories of financial assets relevant for financial reporting purposes.Select the category that best suits the situation given.

---

Definitions:

Intermediary

An entity or service that acts as a mediator or link between two parties, often facilitating transactions or communications between them.

Synchronize

The process of ensuring that files, data, or systems are identical across multiple devices or platforms, maintaining consistency.

The Cloud

A metaphor for storing and accessing data and applications over the internet instead of on a local computer's hard drive.

Static IP

A permanently assigned Internet Protocol address, used for hosting websites and services on the internet.