Question

cash and bank balance , plant and machinery , furniture and fixtures ,land and building -find odd man out​

Answer 1

furniture and fixtures

Answer 2

ANSWER :

★ Cash and Bank Balance.

• ➯ Among the given items, Cash and Bank Balance is the odd one.

• ➯ Plant and Machinery, Furniture and Fixtures and Land and Building are fixed assets. Whereas, Cash and Bank Balance is a current asset.

__________________________________________________________

KNOW MORE :

❍ Assets :-

• An aseet is anything that is in the possession or is the property of a business entity. It is anything which enables a business entity to generate benefits in future.

____________________________________________

❍ Different tyes of Assets :-

• ✎ Fixed Assets : The assets which are held for continuous use in the business for the purpose of producinh goods or rendering services and are not meant for resale are known as Fixed Assets.

• ✎ Current Assets : The assets which are meant for resale or which can be converted into cash within a short period, i.e., in one year are known as Current Assets.

• ✎ Liquid Assets : The assets which can be converted into cash within a short period are known as Liquid Assets.

• ✎ Tangible Assets : The assets which can be seen, touched and have physical existence are known as Tangible Assets.

• ✎ Intangible Assets : The assets which do not have any physical existence and can not be seen or touched are known as Intangible Assets.

• ✎ Wasting Assets : The assets which get exhausted through being worked or used are known as Wasting Assets.

• ✎ Fictitious Assets : The assets which can not be realized in cash or no further benefits can be derived from the assets are known as Fictitious Assets.

• ✎ Contingent Assets : The asset which is a possible asset that arises from past events and the existence of which will be confirmed only by the occurrence of non-occurrence of one or more uncertain future events not wholly within the control of the business entity is known as a Contingent Asset.