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Answer Posted / chandrasekhar hota
Fixed Assets are acquired for use over relatively long
periods for carrying on the operations of the firm and they
are ordinarily not meant for resale.
Eg-: Land, Building, Plant, Machinery, Patents and
Copyrights.
Current Assets are, however, the cash or other resources
which have high liquidity within the operating cycle of the
firm. Current Assets are usually held for a short period of
time as against fixed assets which are held for longer
period of time.
Eg-: Cash, Debtors, Inventories, Loans & advances, and Pre-
paid expenses.
| Is This Answer Correct ? | 19 Yes | 1 No |
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