![]() Thus, ABC firm acquired a fixed asset worth Rs. This can be furniture, engine vehicles, PCs, and much more. Thus ABC firm will now have a place from where they can maintain their business operation and are solely responsible for the building as well.įixed assets additionally incorporate any property that the organization doesnt sell directly to the customer. ![]() The building has a physical shape, will last longer than a year, and creates income, making it a fixed asset. Lets consider that ABC firm plans to purchase an office worth 20 lakhs rupees. The word fix indicates that these assets won’t be sold in the current bookkeeping year. ![]() A typical case of fixed assets is a producer’s plant resources, for example, its structures and hardware.
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