Fixed assets that are depreciated are sometimes called:

Question

Quizplus · Accepted Answer

Fixed assets are assets that are purchased for long-term use and are not intended for resale. They are also known as long-term assets as they provide a long-term benefit to the company. Since these assets lose their value over time, they are depreciated, which means their cost is allocated over their useful life. This process is used to account for the decrease in value of the asset over time due to wear and tear, obsolescence, or other factors. Therefore, the correct answer is C) long-term assets.

Fixed Assets That Are Depreciated Are Sometimes Called