Give one difference between Fixed assets and Current assets.
Answer»
Fixed Asset
Current Asset
Fixed Assets are assets which are acquired to use in the organization for a long period of time to help in the servicing or manufacturing process. The duration of fixed assets'” is normally more than 5 years.
Current assets are an asset which can be easily convertible into rupees. It is also used to meet the daily expenditure of the company. The duration of current assets is normally 1 to 2 years.