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Chapter 17. Managing Assets > Which Assets Are Fixed Assets?

Which Assets Are Fixed Assets?

Fixed assets are assets of a durable nature that are acquired for use in the business rather than for resale, and that are expected to last for a number of years. Rather than taking a deduction for the cost of a fixed asset in the year in which it is acquired, as you might for the cost of office supplies or small tools, the investment for these assets is assigned to future periods and deducted through periodic charges to a depreciation expense account.

Examples of fixed assets include furniture, equipment, buildings, large tools, vehicles, computers, machinery, and animals.


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