Easy Office
LCI Learning

hi all what is exactly fixed assets

This query is : Resolved 
Profile Image

Profile Image

(Querist)
09 October 2007 in one of our clint sell the
Profile Image

S.RAVICHANDRAN

Profile Image

S.RAVICHANDRAN (Expert)
09 October 2007 A Fixed Asset is generally an asset whose life will be definitely beyond one year from the date of purchase of that asset.

So, it means indirectly that, assets whose life is below one year cannot be a fixed asset.

It is only accounting definition.
Profile Image

CMA Gul S

Profile Image

CMA Gul S (Expert)
10 October 2007 Fixed Asset can also be defined as

An Item that will give benefits for more than one year and has a wear and tear over a period of time and are depreciated

Except Intangible Assets and Land % Building
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links