Which of the following is not a characteristic of the fixed asset system?
Most small businesses use some form of a fixed asset in their operations. A fixed asset is a resource a business reports in the assets section of its balance sheet, typically under the “property, plant and equipment” classification. Examples of fixed assets include computers, buildings and land. This type of asset has several characteristics that distinguish it from other assets. Knowing these characteristics can help you properly account for fixed assets in your records. Show
Tangible
Used in Operations
Long-term Life
Capitalized Cost
Depreciation
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