Question

The asset bought for long term use in the business are termed as?​

Answer 1

Answer:

Fixed assets are long-term assets that a company has purchased and is using for the production of its goods and services. ... Fixed assets include property, plant, and equipment and are recorded on the balance sheet.

Explanation:

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Answer 2

Answer:

Fixed assets are long-term assets that a company has purchased and is using for the production of its goods and services. ... Fixed assets include property, plant, and equipment and are recorded on the balance sheet.