Answer the question.
What is a fixed asset as per described in AS- $10$ ?

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Solution

Fixed asset is an asset which is-
$1$ . Held with the intention of being used for the purpose of producing or providing goods and services.
$2$ . Not held for sale in the normal course of business.
$3$ . Expected to be used for more than one accounting period.
Examples of fixed assets are land, building, plant and machinery etc.

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Answer the question.What is a fixed asset as per described in AS-10?

Answer the question.
What is a fixed asset as per described in AS- $10$ ?