Real estate, buildings, equipment and furniture are classified as ________ assets on a company's balance sheet.

Question

Quizplus · Accepted Answer

Fixed assets are long-term assets used for production or rental purposes, not for sale. Real estate, buildings, equipment and furniture are all examples of fixed assets. Intermediate term assets are not fixed assets, but are assets expected to convert to cash or be used within 1-5 years. Other and permanent assets are not commonly used classifications on balance sheets. Current assets are assets that can be easily converted to cash within one year, such as inventory or accounts receivable.

Real Estate, Buildings, Equipment and Furniture Are Classified as ________