What do you mean by assets fixed assets and current assets?

Assets:

Assets are those items which are utilized by company to earn profit in business cycle.

Fixed Assets:

Fixed assets are those items the benefits of which have been taken by company for more than one fiscal year like land, building, machinery etc.

Current Assets:

Current assets are those assets the benefit of which is received or receivable by company in only one fiscal year to earn profit like, cash in hand, marketable securities, inventory, debtors etc.