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Subjects>Business>Accounting

Is land a current or non current asset?

Updated: 9/18/2023

Wiki User

∙ 12y ago

Best Answer

I believe that land comes under Property, Plant & Equipment which comes under non-current. So, as far as I can recall, it should be non-current.

Wiki User

∙ 12y ago

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Continue Learning about Accounting

Is premises a current asset or non current asset?

non-current assets.

Is fixtures and fittings a current asset or a non current asset?

non current

What is the difference between non current asset and plant asset?

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.

Is freight a current asset or non current asset?

it is a expense

Is Closing Inventory is it a current asset?

is closing inventory a current or non current asset

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Is money lent by a bank a current asset or non current asset?

non current asset

Is premises a current asset or non current asset?

non-current assets.

Is fixtures and fittings a current asset or a non current asset?

non current

What is the difference between non current asset and plant asset?

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.

Is freight a current asset or non current asset?

it is a expense

Is Closing Inventory is it a current asset?

is closing inventory a current or non current asset

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 land a liquid or non liquid asset?

is land a liquid asset

Is warranty expense a current or non-current asset?

An expense is not an asset at all.

Why do amount for vehicle appear under non current asset and current asset?

Because it's a fixed asset

What is difference between fixed asset and non current asset?

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.

Is fixtures is current or non-current 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.

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