Which of the following best describes fixed assets?

Fixed assets are typically long-term resources that are essential for a company's operations and are not intended for sale in the normal course of business. This includes items such as buildings, machinery, vehicles, and equipment that a company uses to produce goods or services. Unlike current assets, which can be liquidated quickly within a year, fixed assets have a longer useful life and are critical in helping a business function effectively on a day-to-day basis.

While other types of assets might include those bought specifically for resale or short-term investments, they do not align with the definition and characteristics of fixed assets. Fixed assets are durable and provide operational value over time, rather than being aimed at immediate liquidity or quick resale. Understanding this distinction is vital in financial management as it impacts asset valuation, depreciation, and overall financial strategy within a business.