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what do you mean by fixed asset?
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Answer Posted / ravichandra
Fixed assets means an asset which are having long life and
which are useful for long term basis is called as a fixed
asset such as plant&m/c, building, furniture etc
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difference between vat 47 & vat 49
Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe
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