Which of the following is a fixed asset? (2024)

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A

Office equipment A/c

B

Loose tools A/c

C

Stores and spares A/c

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Solution

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Correct option is C. Office equipment A/c

Non-current(fixed) assets are items of value that the organization has bought and will usefor an extended period of time, typically including land and buildings, motorvehicles, furniture, office equipment, computers, fixtures and fittings, andplant and machinery.

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Which of the following is a fixed asset? (2024)
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