Subjects>Law & Government>United States Government

Is premises is current asset or fixed asset?

Anonymous

∙ 12y ago

Updated: 11/6/2022

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.

Wiki User

∙ 12y ago

What else can I help you with?

Is Premises a tangible fixed assets?

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.

Is premises a current asset or non current asset?

non-current assets.

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Is fixed asset a current asset?

fixed deposit is an assets

Is a car a current asset?

no, it is a fixed asset..

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A fixed deposit in the name of a firm is not a fixed asset.

Can a fixed asset become a current asset?

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Why do amount of vehicles appear in non-current assets and current assets?

Vehicle is a fixed asset so it should be shown in fixed asset list and not in current asset list.