Fixed Asset

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Definition: Fixed Asset

Any firm usually has 2 kinds of assets  - fixed(non-current) and current assets. Fixed assets, including plant, property and equipment (PPE) are those assets which are used by a firm to generate revenue and income, but are illiquid and cannot be converted to cash soon.

Current assets, like cash and bank accounts, on the other hand are highly liquid and can be converted to cash easily.

Fixed assets can be tangible like PPE OR intangible like patents.


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