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Username: LuckyMan Rating:  Asked to: Jacob Rogers Date Created: 17 Nov 2017 |
| Category | 28 |
| Tag | Financial |
| Question | What is a 'Fixed Asset'? |
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Hi LuckyMan, A fixed asset is a long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be consumed or converted into cash any sooner than at least one year's time. Fixed assets are sometimes collectively referred to as "plant." Fixed assets can include buildings, computer equipment, software, furniture, land, machinery and vehicles. For example, if a company sells produce, its delivery trucks are fixed assets. If a business creates a company parking lot, the parking lot is a fixed asset. |
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