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

Question

Quizplus · Accepted Answer

Fixed assets are long-term assets that a company owns and uses in its operations to generate revenue. These assets are not intended for sale and are expected to last for more than one accounting period. Real estate, buildings, equipment and furniture are all examples of fixed assets that should be reported on a company's balance sheet. The other options either do not accurately describe these assets or are not commonly used accounting terms.

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