Maharashtra State BoardHSC Commerce 12th Board Exam
Advertisement Remove all ads

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.

Advertisement Remove all ads

Solution

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.

  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

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

View all notifications


      Forgot password?
View in app×