UrbanPro
Login Ask & Answer Success Stories Paid Courses Free Classes Tuition & Classes Fees Write a Review All Categories Help Center
Post your Learning Need Signup as a Tutor
✕

Popular Cities

Bangalore

Hyderabad

Delhi

Mumbai

Chennai

Pune

Kolkata

Gurgaon

Ahmedabad

Jaipur

Noida

✕

Take Class 12 Tuition from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Book a Free Demo

Class 12 Tuition > Learn Accountancy > What are the fixed assets? Give example.
✕

Search in

What are the fixed assets? Give example.

Asked by Last Modified  

5 Answers

Learn Accountancy +1 Class XI-XII Tuition (PUC)

Follow 8
Answer

Please enter your answer

Ca With 4 Year Experience

as per as 10 fixed asset is an asset which is beingh kept in the business for the purpose producing goods or rendering services i e that asset is not being held for the purpose of sale in the normal course of business. There are lot of examples for fixed asset as land, Building, Plant and machinery...
read more
as per as 10 fixed asset is an asset which is beingh kept in the business for the purpose producing goods or rendering services i e that asset is not being held for the purpose of sale in the normal course of business. There are lot of examples for fixed asset as land, Building, Plant and machinery , computers, furniture, vehicles etc. read less
Comments
Dislike Bookmark

I am Searching for new authors ??

The term 'fixed assets' refers specifically to assets that cannot be converted easily or quickly into cash. Examples: motor vehicles, furniture, office equipment, computers, patents etc.
1 Comments
Dislike Bookmark

Simply put, any asset which will give benefit beyong one financial year is classified as fixed asset. It is a long term asset and provides utility over longer period of time ( more than one year). examples are land, building, machinery, furniture etc. The condition being that these are not stock in...
read more
Simply put, any asset which will give benefit beyong one financial year is classified as fixed asset. It is a long term asset and provides utility over longer period of time ( more than one year). examples are land, building, machinery, furniture etc. The condition being that these are not stock in trade. For a furniture showroom, the furniture for sale is stock while the desk used by the manager is fixed asset. Also concept of materiality, sometimes, can classify an asset as revenue expenditure. E.g. a trash can bought for Rs.200 may be accounted for as expense rather than as fixed asset. read less
2 Comments
Dislike Bookmark

Commerce, law, tutor in Kasumpti Shimla

Fixed Assets are those assets which can be used for more than 1 year and these are subjected to depreciation (decrease in the value of assets) due to change in technology and passage of time. These assets are capital Assets as the amount spent on purchase of these assets are called investment because...
read more
Fixed Assets are those assets which can be used for more than 1 year and these are subjected to depreciation (decrease in the value of assets) due to change in technology and passage of time. These assets are capital Assets as the amount spent on purchase of these assets are called investment because the use of fixed assets provide us profit . The examples are: office furniture , Machinery and equipments, building, plants read less
1 Comments
Dislike Bookmark

Tutor

First of all, let us understand the meaning of an asset. An asset is something from which one derives the benefit. There are two types of assets. They are Current assets and Fixed assets. Current assets are assets that are expected to be converted into cash within one year. However, Fixed assets are...
read more
First of all, let us understand the meaning of an asset. An asset is something from which one derives the benefit. There are two types of assets. They are Current assets and Fixed assets. Current assets are assets that are expected to be converted into cash within one year. However, Fixed assets are those assets from the which the benefits can be derived from more than 1year. In simple, Fixed assets are those assets which can be used for more than 1 year. Since Fixed assets are held for more than 1 year, it loses its value due to the passage of time / obsolescence etc. It is termed as depreciation. Examples for fixed assets: Buildings, Furniture, Computers etc read less
Comments
Dislike Bookmark

View 3 more Answers

Related Questions

What is meant by Capital?
In simple terms any thing bring by the owner of business to start the business activity or for investing
Arati Chaudhari
0 0
8

What is the difference between Bad debts and bad & doubtful debts. What are the legal compliances for the provisions for doubtful debts and bad debts recovered after being written off. 
Both are pretty much same.. Bad debts amount to be transferred to P/L a/c (dr side) Baddebts recovered P/L credit side as income Provision on doubtful debts to be deducted from debtors in balance sheet..
Suneha Sharma
1 0
7

X has made the following drawings during 2014-15. Calculate interest on drawings @90% .

1.Rs. 4000 withdrawn by X on the first day of every month with effect from 1-5-14 for four month

2. From September 2014 he withdraw RS 6000 pm in the middle for each month till December

3. On 1-2-15 he, withdrew RS 10000

4. On 31-3-15 he withdraw RS 5000.
Yes, the interest rest must be 9% to achieve the correct answer,. May be a typing mistake.
Shilpi
Which statement is prepared to know the profitability of the business?
Profitability of a business entity can be estimated through trading p&l account. Where trading account states the gross profit and p&l account states the net profit earned by the entity.
Sumit
0 0
8
difference b/w cash & cash eqivalant..
Cash is basically the money that is available with us in liquid form.And cash eqivalent are those items which can be converted into liquid form as and when required like fixed deposit ,they can be converted...
Madhav

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Definition and Meaning of Trial Balance
A trial balance is a financial statement that lists the balances of a company's general ledger accounts at a specific point in time. It ensures that the total debits equal total credits, helping in the preparation of accurate financial statements.

Subhash Chandra Thakur

1 0
0
Be Exam Oriented while studying for the Exams
Examinations are the ultimate test of the student.Even if one is doing his/her best during school/college days and confidently handling any academic questions until unless he/she scores good marks in Exams/Tests...

Rabindra K.

0 0
0
Why Capital is considered as Internal Liability
Capital is the amount of money invested by the owner in the business. Say Reena is interested in doing a chocolate business , after sometime she has taken ₹ 40000 from her piggy bank which she collected...
S

Swati V.

0 0
0
For CBSE PUC Accountancy- How to Identify Revenue vs Capital Expenditures for a Business Organisation
Dear Students, Identification of Revenue and Capital natured expenditure is essential for us. It is the base for many of the chapters in your Accountancy Syllabus. Let us understand these terms with several...

Madhura Sagar G.

2 0
0
Introduction To Accounting: Part 15: Cost Concept Or Historical Cost Concept
According to the Cost Concept, an asset is recorded in the books of account at the price paid to acquire it and the cost is the basis for all subsequent accounting of the asset. Since the acquisition...

Nishant Kumar

0 0
0

Recommended Articles

Meet Urmila, an MBBS tutor from Bangalore

Urmila is a passionate teacher with over 8 years of experience in teaching. She is currently pursuing her Ph. D. She provides classes for Class 11, Class 12, MBBS and Medical tuition.  Urmila began her career in teaching long before she became a teacher. She used to provide classes for foreign national students in her college...

Read full article >

Meet Raghunandan.G.H, a B. Tech Tutor from...

Raghunandan is a passionate teacher with a decade of teaching experience. Being a skilled trainer with extensive knowledge, he provides high-quality BTech, Class 10 and Class 12 tuition classes. His methods of teaching with real-time examples makes difficult topics simple to understand. He explains every concept in-detail...

Read full article >

Meet Swati, a Hindi Tutor from Bangalore

Swati is a renowned Hindi tutor with 7 years of experience in teaching. She conducts classes for various students ranging from class 6- class 12 and also BA students. Having pursued her education at Madras University where she did her Masters in Hindi, Swati knows her way around students. She believes that each student...

Read full article >

Meet Sandhya R, a B.Sc tutor from Bangalore

Sandhya is a proactive educationalist. She conducts classes for CBSE, PUC, ICSE, I.B. and IGCSE. Having a 6-year experience in teaching, she connects with her students and provides tutoring as per their understanding. She mentors her students personally and strives them to achieve their goals with ease. Being an enthusiastic...

Read full article >

Find Class 12 Tuition near you
Class 12 Tuition in Delhi
Class 12 Tuition in Bangalore
Class 12 Tuition in Chennai
Class 12 Tuition in Hyderabad
Class 12 Tuition in Kolkata
Class 12 Tuition in Mumbai
Class 12 Tuition in Lucknow
Class 12 Tuition in Gurgaon
Class 12 Tuition in Noida
Class 12 Tuition in Pune
Online Tuition Class 12

Looking for Class 12 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you
X

Looking for Class 12 Tuition Classes?

The best tutors for Class 12 Tuition Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Take Class 12 Tuition with the Best Tutors

The best Tutors for Class 12 Tuition Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more

ThinkVidya Learning Pvt Ltd © 2010-2025 All Rights Reserved