Question

distinguish between current assets and fixed assets

Answer 1

Hello dear here is your answer

Fixed assets
*Fixed assets are those assets which are purchased for long term use.
*We can't convert it quickly in cash.
*Some example of fixed assets are Land and building, Plant and machinery, Patent, Goodwill Copyright etc.

Current assets
*Current assets are those acids which are purchase for short term use.
*We can convert it quickly in cash.
*some example of current assets are Debtors, Bills receivable, Accrued Income etc.

Hope it will help you....