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which of the following is not considered a fixed asset? a. land b. equipment c. buildings...

which of the following is not considered a fixed asset?
a. land
b. equipment
c. buildings
d. patents

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Answer #1

Fixed assets are long term assets a company purchases to generate income, these assets are not expected convert into cash or used within a year.

Fixed assets are classified as Non current assets in the balance sheet.

Other then fixed assets non current assets include intangible assets and investments.

Intangible assets include goodwill, trademarks, patents, copyrights, etc.

Fixed assets are deprecated over the time because of the use whereas intangible assets are amortized.

Therefore the answer is d. Because land, equipment, buildings are all fixed assets but patent is a intangible asset.

Answer - d. Patents

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