If you have questions about the training, contact the. An expensed asset is an asset for which the entire cost is deducted from income in the year of purchase.We offer competitive rates and flexible terms. To reserve funds in the program the borrower is required to have a signed real estate purchase contract for a specific address. "Bidder" means a person who desires to make a proposal on procurement. (See "Qualified Bidder" and "Responsive Bidder"). 2. Consult the table in the following section for a list of specific assets typically categorized as real or personal property.