Question

fixed assets are carried in books of conversion as on the date of ?​

Answer 1

ғɪxᴇᴅ ᴀssᴇᴛs

ɪɴ ʙᴜsɪɴᴇss, ᴛʜᴇ ᴛᴇʀᴍ ғɪxᴇᴅ ᴀssᴇᴛ ᴀᴘᴘʟɪᴇs ᴛᴏ ɪᴛᴇᴍs ᴛʜᴀᴛ ᴛʜᴇ ᴄᴏᴍᴘᴀɴʏ ᴅᴏᴇs ɴᴏᴛ ᴇxᴘᴇᴄᴛ ᴛᴏ ᴄᴏɴsᴜᴍᴇᴅ ᴏʀ sᴇʟʟ ᴡɪᴛʜɪɴ ᴛʜᴇ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ᴘᴇʀɪᴏᴅ. ... ᴇxᴀᴍᴘʟᴇs ᴏғ ғɪxᴇᴅ ᴀssᴇᴛs ɪɴᴄʟᴜᴅᴇ ᴍᴀɴᴜғᴀᴄᴛᴜʀɪɴɢ ᴇǫᴜɪᴘᴍᴇɴᴛ, ғʟᴇᴇᴛ ᴠᴇʜɪᴄʟᴇs, ʙᴜɪʟᴅɪɴɢs, ʟᴀɴᴅ, ғᴜʀɴɪᴛᴜʀᴇ ᴀɴᴅ ғɪxᴛᴜʀᴇs, ᴠᴇʜɪᴄʟᴇs, ᴀɴᴅ ᴘᴇʀsᴏɴᴀʟ ᴄᴏᴍᴘᴜᴛᴇʀs.

Answer 2

Fixed assets are carried in books of conversion as on the date of the Financial year ending.

• Property, plant, and equipment kept for use in the production or delivery of goods or services, renting to others, or administrative purposes are sometimes referred to as fixed assets.
• They are likely to be utilized by a company having a longer accounting period than a year.
• They keep track of their assets on the balance sheet and subsequently charge depreciation expenses to expenses.