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- Dictionaryfixed as·sets/ˈfikst ˌaˌsəts/
plural
- 1. assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land, buildings, and equipment.
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plural
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Assets and property that cannot easily be converted into cash, like property, plant or equipment
A fixed asset, also known as long-lived assets or property, plant and equipment (PP&E), is a term used in accounting for assets and property that may not easily be converted into cash. Fixed assets are different from current assets, such as cash or bank accounts, because the latter are liquid assets. In most cases, only tangible assets are referred to as fixed. Wikipedia