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As per the accounting what do you mean by Fixed Assets?
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Answer Posted / gravi
A long-term tangible piece of property that a firm owns and
uses in the production of its income and is not expected to
be consumed or converted into cash in the current or
upcoming fiscal year.Fixed assets are sometimes
collectively referred to as "plant". Buildings, real
estate, equipment and furniture are good examples of fixed
assets. Generally, intangible long-term assets such as
trademarks and patents are not categorized as fixed assets
but specifically referred to as "fixed intangible assets".
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