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?
- i, ii and v
- i, ii and iv
-
i, ii and iii
- iii, iv and v
The correct answer is: C
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