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Why land is called fixed asset?

Anonymous

∙ 12y ago

Updated: 4/28/2022

fixed assets are those assets which are not intended to sale. If we sell those assets then our business will not survive.

Wiki User

∙ 12y ago

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Which one of the fixed asset accounts will not have a related contra asset account?

land

Which one of the fixed asset accounts listed below will not have a related contra asset account?

land

Is one of the fixed asset accounts from Office Equipment Land Delivery Equipment or Building will not have a related contra asset account?

LAND

Is a desk a fixed asset or a current asset?

A fixed asset.

Which one of the fixed assets accounts will not have a related contra asset account?

land

Related Questions

Which fixed asset their no charge depreciation?

Land is the only fixed asset which has no depreciation charge because land does not depreciate it's value.

Which one of the fixed asset accounts will not have a related contra asset account?

land

A fixed asset that is not depreciated?

Land is the only fixed asset which is not depreciated because land never depreciates or wear and tear occur rather it always appreciates.

Which one of the fixed asset accounts listed below will not have a related contra asset account?

land

What is the Journal entry move land out of current assets?

Land is not a current asset and if recorded as current asset then no entry required to re-classify as fixed asset.

Is one of the fixed asset accounts from Office Equipment Land Delivery Equipment or Building will not have a related contra asset account?

LAND

What are the problems a business might face with fixed assets?

organization facing problem about fixed asset is that the working capacity of the fixed asset goes on decreasing only excluding the land, because the value of land always appreciated

What Types of fixed asset?

1)Tangible fixed asset 2)Intangible fixed asset 1)Tangible fixed asset 2)Intangible fixed asset

Is a desk a fixed asset or a current asset?

A fixed asset.

Fixed deposit is current asset or fixed asset?

Fixed deposit is under fixed assets. Under fixed assets, there are 3 category that is tangible fixed assets (land, machinery, dll), intagible fixed assets (pattern, franchise, dll) and investment (fixed deposite,dll).

Which one of the fixed assets accounts will not have a related contra asset account?

land

What is land in the form of a business?

In business, Land is known as fixed capital or asset as it is the source of income at that case.

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