Interested to Buy Any Domain ? << Click Here >> for more details...
What is the Difference between Current Assets and Fixed
Assets and how would you classified it
- 19 Answers
- 104557 Views
- GET Engineering Construction, I also Faced
- E-Mail Answers
Answer Posted / ameer muhammed
Fixed Asset
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 any sooner than at least one year's time.
Current Assets
1. A balance sheet account that represents the value of all assets that are reasonably expected to be converted into cash within one year in the normal course of business. Current assets include cash, accounts receivable, inventory, marketable securities, prepaid expenses and other liquid assets that can be readily converted to cash.
2. In personal finance, current assets are all assets that a person can readily convert to cash to pay outstanding debts and cover liabilities without having to sell fixed assets.
In the United Kingdom, current assets are also known as "current accounts".
| Is This Answer Correct ? | 2 Yes | 1 No |
Post New Answer View All Answers
What Is Social Audit?
What is pr ? why it is prepared and what is its purpose ? who is responsible for preparing it ? And on any fault in it who is liable ? And what will happen if fault comes ?And What are major reasons of fault ?
I WANT TO DO MY ARTICLE-SHIP FROM DELLOITS KOLKATA..PLEASE HELP??
Define decommission liability?
What are objectives of internal audit?
A company charity (gross income
Tell me that how I can evaluate the internal control audit?
Who will audit an auditing firm?
What to do after the audit?
How will you calculate impairment of assets of a software company?what is the necessary steps briefly describe?
What is an internal audit and what is the role of internal audit?
Explain the difference between internal audit and external audit?
hi friend i have selected in ssc cgle as accountant in audit department. can anyone tell about the work of accountant in audit department?
How to do an internal audit effectively?
What do you mean by vouching?
