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Question
What are fixed and current assets?
What are fixed and current assets?
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Solution
Fixed assets are long-term assets that are used in the business to create or generate income such as plant and machinery, buildings, equipment, etc.
Current assets are short-term assets that are used to maintain everyday operations or functions of business such as cash, cash equivalents, and deposits.
Fixed assets are long-term assets that are used in the business to create or generate income such as plant and machinery, buildings, equipment, etc.
Current assets are short-term assets that are used to maintain everyday operations or functions of business such as cash, cash equivalents, and deposits.
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