Nature of fixed Assets Fixed assets are long- ASSETS LIABILITIES term, relatively permanent, tangible assets such as buildings and equipment OWNER'S used to help produce Fixed EQUITY revenues Assets EXPENSES REVENUES c9-3C9 - 3 LIABILITIES OWNER’S EQUITY Fixed assets are long￾term, relatively permanent, tangible assets such as buildings and equipment used to help produce revenues. REVENUES ASSETS EXPENSES Fixed Assets Nature of Fixed Assets