The Term 'Fixed Assets' Can Be Defined As

question 17

Multiple Choice

The term 'fixed assets' can be defined as:

• A)Fixtures and furniture that are not removable from a building
• B)Employees expected to remain with a firm for an extended period of time
• C)Land,building,equipment and other assets expected to remain with a firm for an extended period of time
• D)Only land expected to remain with a firm for an extended period of time

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Definitions:

Adjunct Liability Account

An account that is associated with a liability and increases its amount, unlike a contra liability account which reduces it.

Call Option

A financial contract giving the buyer the right but not the obligation to buy an asset at a specified price within a certain period.

Bonds

Financial instruments representing a loan made by an investor to a borrower, typically corporate or governmental, where the borrower commits to paying back the principal along with interest.

Retirement

The act of leaving one's job and ceasing to work, typically due to age, with various financial planning strategies employed to ensure financial security.