In accounting terms, fixed assets are the assets that cannot be consumed or sold in a normal course of business. It can be defined as the assets that are expected to last more than one year, for example land, building, equipment, stock, etc. These assets are shown on the book value (purchase price – Depriciation) in the Balance Sheet.
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In accounting terms, fixed assets are the assets that cannot be consumed or sold in a normal course of business. It can be defined as the assets that are expected to last more than one year, for example land, building, equipment, stock, etc. These assets are shown on the book value (purchase price – Depriciation) in the Balance Sheet.