An example of fixed asset is

Assessment: WAEC SSCE - Financial Accounting - 2005 (Objective) Subject: Financial Accounting

Question 1 Report

An example of fixed asset is
Answer Details
Fixed assets are long-term tangible assets that are held by a business for the purpose of generating revenue. Examples of fixed assets include property, plant, and equipment, such as land, buildings, machinery, and furniture. Therefore, the correct option in this case is furniture.
Read lesson note on Nature And Significance Of Accounting (JAMB)
Read lesson note on Principles Of Double Entry (JAMB)
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