ECONOMICS

Detailed explanation-1: -samples of current assets are money, money equivalents, assets, and inventory. Hence Royalty is not an example of fixed assets.

Detailed explanation-2: -Sundry debtors are recorded as fixed assets as the money belongs to the business. Where the money lent is expected to return to the business in a short period of time.

Detailed explanation-3: -Fixed assets, also known as property, plant, and equipment (PP&E) and as capital assets, are tangible things that a company expects to use for more than one accounting period. Current assets, such as cash and inventory, are items that the company expects to use up or sell within a year.

Detailed explanation-4: -Non-Fixed Assets Property means all assets of the Partnership of every kind and description and wherever located, including all cash on hand, accounts receivable, notes receivable, contract rights, inventory, work in process, supplies and other personalty, but excluding the Partnership Fixed Assets.

Detailed explanation-5: -Examples of fixed assets include land, machinery, vehicles, furniture, computer equipment, buildings, and other equipment.