Question

Is Accounting Software a Fixed Asset?

Answer 1

Yes, accounting software can be considered as a fixed asset as it is tangible in nature, serves the business for an extended period of time (several accounting periods till the software does not become outdated), and is not purchased with the intention of resale.

Also read:

• Difference Between Assets and Liabilities
• What Are Current Assets
• What Are Non Current Assets
• What Is a Fixed Asset
• Balance Sheet Vs Profit Loss Account

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