1. Asset that is not eligible for conversion into cash within a year of the date of the balance sheet. 2. Capital goods such as machinery which are not expected to be replaced or sold within the firm’s normal operational cycle.
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
1. Asset that is not eligible for conversion into cash within a year of the date of the balance sheet. 2. Capital goods such as machinery which are not expected to be replaced or sold within the firm’s normal operational cycle.
This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
Powered by Black’s Law Dictionary, Free 2nd ed., and The Law Dictionary.