What are fixed Assets?

Fixed Assets are those assets that are acquired for continued use and are not ment for resale. Fixed Assets May be i) Tangable and ii) Intangible.

• Tangible Fixed Assets: refers to those fixed assets which can be seen and touched, e.g., Land and Building, Machinery etc.
• Intangible Fixed Assets: refers to those fixed assets which are not in physical form i.e., they can nither be seen nor touched, e.g., goodwill of a firm, trade mark etc.