In general, a motor vehicle is considered a fixed asset for a company if (1) it is owned by the company and (2) it is used by the company for generating revenue.
Many companies; however, choose not to own vehicles outright and select leases because they (a) do not want to carry additional assets on their balance sheets or (b) want to better relate the majority of vehicle costs (including usage) to revenue generation (if they stop producing, they will stop paying to lease the car).
asset
Because it's a fixed asset
Vehicle is a fixed asset so it should be shown in fixed asset list and not in current asset list.
Motor Vehicle is an asset for business and long term asset which is shown under balance sheet as a asset and like all other fixed assets which has debit balance as normal balance it also has debit balance as normal balance.
A motor vehicle can be a current asset for a company whose business is to sale vehicles.For example Toyota motor co trades in vehicles among other business lines.For Toyota the vehicles they hold for trading purposes are it's stock ,hence a current asset. Kachana Mushongo contact kachana@accamail.com
1)Tangible fixed asset 2)Intangible fixed asset 1)Tangible fixed asset 2)Intangible fixed asset
A fixed asset.
fixed
If repair improves the performance of fixed assets and massive improvement then it is part of fixed assets otherwise revenue expense.
fixed deposit is an assets
fixed assest
A fixed deposit in the name of a firm is not a fixed asset.