non-current assets.
premises is an 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.
Yes premises is a tangible fixed asset because you can physically ensure the existence of premises like building etc and intangible assets are those assets which cannot be check physically.
Premises as in Property (Commercial/Industrial) are classified as Non- Current Assets
Current asset
Current asset.
Current Asset
non current asset
Current Asset