Accounting · Introduction to Accounting
Fixed assets are those assets which are:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Acquired to meet immediate operating liabilities
- 2Meant for conversion into cash as quickly as possible within one year
- 3Held primarily for resale purposes
- 4Kept in the business for continuous use over a long period for earning income✓
Correct answer
Kept in the business for continuous use over a long period for earning income
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