Question

what is meant by fixed assets

Answer 1

Assets which are purchased for long term use and not likely to be converted into cash, such as land,building and equipment...!!!

:)

Answer 2

A fixed asset is a long-term tangible piece of property that a firm owns and uses in its operations to generate income. Fixed assets are not expected to be consumed or converted into cash within a year. Fixed assets are known as property, plant, and equipment (PP&E). They are also referred to as capital assets.