Since furniture and store equipment for Rosalind's Boutique will be held or used for a period longer than one year, they are considered

Question

Quizplus · Accepted Answer

Furniture and store equipment are fixed assets because they are intended to be used in the business for a period longer than one year. Fixed assets have a longer life span and are not meant to be sold or converted into cash in the short term.

Since Furniture and Store Equipment for Rosalind's Boutique Will Be