Net fixed assets represent the difference between gross fixed assets and the total expense recorded for the depreciation over then entire lives of the firm's fixed assets.

Name: Net fixed assets represent the difference between gross fixed assets and the total expense recorded for the depreciation over then entire lives of the firm's fixed assets.
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Question

Quizplus · Accepted Answer

Net fixed assets is calculated as gross fixed assets minus accumulated depreciation. Therefore, the statement is true.

Net Fixed Assets Represent the Difference Between Gross Fixed Assets