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Subjects>Law & Government>United States Government

Is premises is current asset or fixed asset?

Updated: 11/6/2022

Wiki User

∙ 11y ago

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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.

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∙ 11y ago

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Related questions

Is premises a current asset or non current asset?

non-current assets.

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.

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

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