JAMB Accounting 2025 Objective — Question 22
Question 22 of 41 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2025 Objective paper, with the correct answer and a full explanation.
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Which of these best explains fixed assets?
- A. Are bought to be used in the business
- B. Are expensive items bought for the business
- C. Are items which will not wear out quickly
- D. Are of long life and are not purchased specifically for resaleCorrect
Explanation
Fixed assets are assets used for the long term, such as buildings, machinery, etc.
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