Asked by
Junior Martinez
on Nov 18, 2024
Verified
A characteristic of a fixed asset is that it is
A) intangible
B) used in the operations of a business
C) held for sale in the ordinary course of the business
D) a short-term investment
Fixed Asset
A long-term tangible piece of property or equipment that a firm owns and uses in its operations to generate income.
Intangible
Assets that lack physical substance but hold value for a firm, such as patents, trademarks, and goodwill.
- Comprehend the fundamentals and approaches used in the computation of depreciation for fixed assets.
- Recognize the distinct attributes and accounting practices associated with intangible assets compared to tangible assets.
Verified Answer
BK
Learning Objectives
- Comprehend the fundamentals and approaches used in the computation of depreciation for fixed assets.
- Recognize the distinct attributes and accounting practices associated with intangible assets compared to tangible assets.
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