Question

Machinery is a current asset . true / false​

Answer 1

Answer:

yes it's true that machinery is current asset.

Answer 2

Machinery is a current asset - False

• In accounting purposes machinery is not a current asset.
• A current asset is any asset that gives an economic value over or within one year. Current assets include the cash equivalents, stock, cash or other prepaid liabilities.
• Machinery, is the part of plants and equipment. It does not give any economic value, rather depreciates with time due to wear tear and maintenance.