What are fixed assets?
Fixed assets are long term tangible resources owned by a business which are not intended for resale.
What are examples of fixed assets?
Examples include buildings, machinery, vehicles, and equipment.
Why are fixed assets important?
They support operations and long term productivity.
How are fixed assets recorded?
They are recorded on the balance sheet and depreciated over time.
How do fixed assets differ from current assets?
Fixed assets are long term, while current assets convert to cash within a year.