Which of the following is a characteristic of fixed assets?
A) Fixed assets are offered for sale as part of normal operations.
B) Fixed assets do not exist physically.
C) Fixed assets are long-term or relatively permanent assets.
D) Fixed assets that are no longer used in operations are still classified as fixed assets.

Question

Quizplus · Accepted Answer

Fixed assets are long-term or relatively permanent assets. They are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes. Examples of fixed assets include land, buildings, machinery, and equipment.

Which of the Following Is a Characteristic of Fixed Assets