Instructions: Please Define the Following Key Terms

question 32

Essay

Instructions: Please define the following key terms.Show Who? What? Where? When? Why Important?
-Parliament

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Definitions:

Fixed Assets

Long-term tangible assets that are used in the operations of a business and are not expected to be converted to cash in the short term.

Operational Assets

Operational assets are the long-term assets that a company uses in the production of its goods and services, crucial for its core operations.

Plant Assets

These are long-term tangible assets used in the operations of a business that are not intended for resale, such as machinery, buildings, and land.

Fair Market Value

The price that a willing buyer and a willing seller would agree on for an asset in an open and competitive market.