Use the information to answer below to answer questions

i Operating machines

ii Furniture

iii Fixtures and fitting

iv Loan from friends

V Creditors

Find the fixed assets?

  • A i, ii and v
  • B i, ii and iv
  • C i, ii and iii
  • D iii, iv and v
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The correct answer is C. i, ii and iii

Fixed assets are assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land, buildings, furniture and equipment. From the question above they include; i, ii & iii

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