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assests means
plant assets comes under non current assets. now non current assets are those which are not easily feasible in cash like land, building or other fixed properities.
non current asset
non-current assets.
non current
Current asset appears first in the balance sheet such as cash, accounts receivable and inventory. Fixed assets are those such as land, buildings, vehicles, furnitures, office equipments. In short, fixed assets are also known as non-current asset. It can also be known as capital assets or plant, property and equipment.
it is a expense
is closing inventory a current or non current asset
An expense is not an asset at all.
Because it's a fixed asset
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.
Current asset is primarily a cash or anything that will be converted into cash in period no longer than 12 months. This could be for example a stock in your storeroom which you may process and sell, the money you collect from your debtors (as recorded in Accounts receivable), etc. Non current asset (also called fixed assets) is anything of monetary value that represents future benefit to the business for period no shorter than 12 months. Examples are land, building, car, machinery, plant and equipment.