Use the information to answer below to answer questions i Operating machines ii Furniture iii...
FINANCIAL
JAMB 2009
Use the information to answer below to answer questions
i Operating machines ii Furniture iii Fixtures and fitting iv Loan from friends V Creditors
Find the fixed assets?
- A. i, ii and v
- B. i, ii and iv
- C. i, ii and iii
- D. iii, iv and v
Correct Answer: C. i, ii and iii
Explanation
Fixed assets are assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land, buildings, furniture and equipment. From the question above they include; i, ii & iii
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