Maharashtra State BoardHSC Commerce 12th Board Exam
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Give the Word / Term Or Phrase Which Can Substitute the Following Statement. - Book Keeping and Accountancy

One Word Answer

Give the word / term or phrase which can substitute  the following statement.

Assets which are held in the business for a long period.

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Fixed Assets

Explanation: Fixed Assets are the assets which are held in the business for a long period.  These assets are not meant for resale; rather, these are used for the production or rendering of goods and services. These assets help the business to earn income. For example, land and building, plant and machinery, furniture, etc.

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Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 2 Partnership Final Accounts
Exercise | Q 15 | Page 64
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