An asset type is a class of economic resource that has both financial and non-financial value. Financial assets include cash, investments, stocks, bonds, and other value-producing resources. Non-financial assets like real estate, intellectual property, valuable personal possessions, and collectibles are also considered to be assets. Knowing how to classify and categorize these assets is important in order to ensure that they are being valued properly and managed appropriately. Understanding the different types of assets can help businesses make informed decisions about their finances and create strategies for the future.