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As per the accounting what do you mean by Fixed Assets?
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Answer / gravi
A long-term tangible piece of property that a firm owns and
uses in the production of its income and is not expected to
be consumed or converted into cash in the current or
upcoming fiscal year.Fixed assets are sometimes
collectively referred to as "plant". Buildings, real
estate, equipment and furniture are good examples of fixed
assets. Generally, intangible long-term assets such as
trademarks and patents are not categorized as fixed assets
but specifically referred to as "fixed intangible assets".
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From the following data calculate (i) P/V Ratio (ii) Profit when sales are Rs.20,000 and (iii) the new Break-Even Point, if the selling price is reduced by 20% Fixed expenses Rs. 4,000 Break-Even-Pont Rs. 10,000
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