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What is the Difference between Current Assets and Fixed
Assets and how would you classified it
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Answer Posted / inyene favour
current assests are flexible and a slight or no fall in
value. that is current assets are easily converted into cach
without a significant fall in value and very vital in any
financial operation e.g cash at hand,cash at bank,bonds
andother bills.
while on the other hand,fixed assets are inflexible meaning
are not easily converted for cash and usually serve as long
term assets that is have a long live spand. e.g
machinaries,structures etc.
they are both simmilar in that they are needed for the day
to day runiing oof the buz.
and their differencies is that current assats are more
liquid than fixed assets.
| Is This Answer Correct ? | 1 Yes | 3 No |
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