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RecklessChicken

Hey there, here is my brief explanation for you:

Fixed assets are mostly things that are purchased to use for a long period of time. These items are used in business and can be classified as property, plant, or equipment. Fixed assets are things that are bought and meant not to be sell-able or at least not easily. Fixed assets are bought for personal business use and usually are not likely to be sold.

Iwantyou4today

Fixed assets are mostly things every businessman or company buys. There are the things they use specifically for there company. Companies use them until they just wear out, get broken, or get old.

Example: Most Clothes store companies buy lots of cloth hangers. They buy them in order to hang all the cloths in the store. These hangers are used for a long period. They only are stopped using if broken.

Hope this helps!

-Your Brainly User.

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