Assets acquired for income generation, but not for resale are called ________.

Fixed Assets

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Floating assets

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Wasting Assets

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Tangible assets

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Solution

The correct option is C Fixed Assets
Fixed assets are the assets which stays in the business for more than 4-5 years. They are acquired in business for generating income. They are long term assets and not acquired for resale. e.g. Plant and machinery , Furniture and fixtures.

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Assets acquired for income generation, but not for resale are called ________.

The correct option is C Fixed AssetsFixed assets are the assets which stays in the business for more than 4-5 years. They are acquired in business for generating income. They are long term assets and not acquired for resale. e.g. Plant and machinery , Furniture and fixtures.

The correct option is C Fixed Assets
Fixed assets are the assets which stays in the business for more than 4-5 years. They are acquired in business for generating income. They are long term assets and not acquired for resale. e.g. Plant and machinery , Furniture and fixtures.