BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Land is regarded as a fixed asset for a business, as it provides appreciation in the long term. It is therefore a long term asset for the business.

Detailed explanation-2: -Land and buildings are tangible, long-term assets companies use and benefit from over time. They are tangible because they have a physical form-unlike intangible assets (such as patents, trademarks and copyrights) that do not.

Detailed explanation-3: -Examples of fixed assets include land, machinery, vehicles, furniture, computer equipment, buildings, and other equipment.

Detailed explanation-4: -Land is a long-term asset, not a current asset, because it’s expected to be used by the business for more than one year. Current assets are a business’s most liquid assets and are expected to be converted to cash within one year or less.

Detailed explanation-5: -1. Financial statements disclose certain information relating to fixed assets. In many enterprises these assets are grouped into various categories, such as land, buildings, plant and machinery, vehicles, furniture and fittings, goodwill, patents, trade marks and designs.