non-current assets.
non current
premises is an asset
it is a expense
is closing inventory a current or non current asset
An expense is not an asset at all.
non current asset
non current
premises is an asset
it is a expense
Premises as in Property (Commercial/Industrial) are classified as Non- Current Assets
is closing inventory a current or non current asset
An expense is not an asset at all.
Because it's a fixed asset
asset
asset
Premises, if owned, are considered as a fixed asset. This is because it is usually retained for the long term, and is used by the firm to generate profits. An example is a bakery shop - the shop is used as an outlet to sell bakery goods.
Fixtures is an item of property plant and equipment and is considered a non-current asset. In order for something to be classified as a current asset, the asset is to be realised within the normal course of business for the company or within 12 months.