Is borewell a fixed asset?

Open in App

Solution

A borewell is grouped under land and building, which is a fixed asset. Fixed assets are used by the companies for a long period of time to generate revenues.

Also see:

Difference Between Assets and Liabilities

What Are Current Assets?

Suggest Corrections

Similar questions

If book value of a fixed asset equals to market value or sale proceeds of a fixed asset then :

Distinguish between fixed assets and current assets.

Join BYJU'S Learning Program