non-current assets.
non current
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.
it is a expense
is closing inventory a current or non current asset
non current asset
non-current assets.
non current
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.
it is a expense
is closing inventory a current or non current asset
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 asset
An expense is not an asset at all.
Because it's a fixed 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.
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.