Fixed Asset
**Fixed Asset**
What is Fixed Asset?
Fixed assets are long-term tangible pieces of property that a firm owns and uses to produce its revenue and are not expected to be consumed or converted into cash within the accounting year. Examples of fixed assets include property, plant, and equipment (PP&E). They are used in business operations to generate revenue and are not intended for sale to customers. Businesses track fixed assets for accounting and tax purposes, often using fixed asset management software to manage depreciation, maintenance, and location tracking.
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