Question

Which of these best explains fixed assets-


A. Are bought to be used in the business


B. Are expensive items bought for the business


C. Are items which will not wear out quickly


D. Are of long life and are not purchased specifically for resale

Answer 1

Answer:

D. Are of long life and are not purchased specifically for resale is the correct answer.

Explanation:

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Answer 2

Answer:

The correct option is D. Are of long life and is not purchased specifically for resale.

Explanation:

• A fixed asset exists as a long-term tangible asset that a business holds and uses to construct income and is not anticipated to be utilized or sold within a year.
• Fixed assets exist utilized for a long period and are purchased by the company for its everyday functions of manufacturing goods and services for example machinery, and equipment.
• These are bought with the purpose of improving the earnings of the company. Fixed assets recreate a huge function in being a part of elements of production.

Fixed assets-features

• They include a useful life of more than one year.
• They can be depreciated.
• They are utilized in business functions and deliver a long-term financial advantage.
• They exist illiquid.

Hence  D. Are of long life and is not purchased specifically for resale is the best example for fixed asstes.