An asset is anything that brings (or is expected to bring) an economic benefit to the entity. ... So yes stationary is an asset. An expense is an outflow of economic benefits incurred within a period. So when the stationary was purchased the entity would have incurred an expense to purchase the asset.

It will be come under the purchases because a stationary shop has to deal in the notebooks and all.So,the notebook became the dealing goods for him.And we know that those goods in which the business deals comes under purchases.

Introduction:
Notebooks purchased by a stationery shop are considered as assets. Assets are resources owned by a business that have economic value and can be used to generate future benefits.

Explanation:
Definition of Assets:
Assets are tangible or intangible resources owned by a business that can be used to generate economic benefits. They are recorded on the balance sheet and are classified into different categories such as current assets, fixed assets, and intangible assets.

Notebooks as Assets:
When a stationery shop purchases notebooks, they acquire a tangible resource that can be used to generate revenue. These notebooks can be sold to customers, resulting in cash inflow. As such, notebooks are considered as current assets for the stationery shop.

Classification of Assets:
Current Assets:
Current assets are those that are expected to be converted into cash or used up within one year. Examples include cash, accounts receivable, inventory, and prepaid expenses. Notebooks purchased by the stationery shop fall under the inventory category of current assets.

Fixed Assets:
Fixed assets are long-term resources that are not easily converted into cash and are used in the production or operation of the business. Examples include land, buildings, machinery, and vehicles. Notebooks do not fall under the category of fixed assets since they are not used in the production or operation of the business.

Intangible Assets:
Intangible assets are non-physical resources that have no physical substance but still hold value for the business. Examples include patents, trademarks, copyrights, and goodwill. Notebooks do not fall under the category of intangible assets.

Conclusion:
Notebooks purchased by a stationery shop are considered as assets. They are classified as current assets and are recorded on the balance sheet. As the stationery shop sells these notebooks to customers, it generates revenue and realizes the economic benefits of the purchased assets.