What is the Difference between Current Assets and Fixed
Assets and how would you classified it
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Answer Posted / tpai
current asset can be seen as an asset which can be easily
converted to cash ,it is always ready to be convretd.
example cash at bank , gold ,stocks etc while fixed asset
is a long term investment that can cannot be easily
converted to cash for in instance you can wake up one
morning and decide to collect all the money in your accout
which will be given to you by the bank peacefully without
stress but you can"t easily sell your machnery because it
there to serve the company for a specific period of time
because if that is done the company might fold or might
have to borrow inorder to continue the day to day opreation
of the business .other examples of fixed asset are land
furntures and fittings etc
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