What is fixed asset

Question

What is fixed asset

Accepted Answer

Fixed assets are long-term tangible assets that are used in the production of goods or services and have a useful life of more than one accounting period.

Fixed assets are physical assets such as buildings, machinery, vehicles, and equipment.
They are not intended for sale and are used for the company's operations.
Fixed assets are recorded on the balance sheet and depreciated over their useful life.
They are typically categorized into land, buildings, machinery, vehicles, and furniture.
Examples of fixed assets include land, buildings, vehicles, computers, and manufacturing equipment.

Accepted Answer

Assets which the purchased for long term use and are not likely to be converted quickly into cash

Accepted Answer

Fixed assets is that asset which is fixed. It doesn't change

What is fixed asset

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