diffrenciate between fixed and temporary assets
Answers
Answer:
Current assets are short-term assets that are typically used up in less than one year. Current assets are used in the day-to-day operations of a business to keep it running. Fixed assets are long-term, physical assets, such as property, plant, and equipment (PP&E). Fixed assets have a useful life of more than one year.
Explanation:
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Answer:
subset of a company's current assets that changes according to seasonal fluctuations. For example, a retail store's current inventory may include holiday decorations around Christmas. These decorations would be temporary assets with respect to the remainder of the store's inventory.
Fixed assets can include buildings, computer equipment, software, furniture, land, machinery, and vehicles. For example, if a company sells produce, the delivery trucks it owns and uses are fixed assets. If a business creates a company parking lot, the parking lot is a fixed asset.