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LSDefine

Simple English definitions for legal terms

fixed asset

Read a random definition: reasonable care

A quick definition of fixed asset:

Fixed Asset: A fixed asset is something a business owns that is used to make money, like a building or equipment. These things are not meant to be sold quickly or used up right away. They are usually used for a long time, like more than a year, and can be touched or seen. Fixed assets are different from things like cash or stocks, which can be easily turned into money. Each state has its own rules about what counts as a fixed asset, but things like cars or trucks can also be considered fixed assets.

A more thorough explanation:

Fixed Asset is a term used in accounting to refer to property and equipment that are used in the production and distribution of services. These assets are tangible, long-term assets that are not easily converted into cash and are often used to generate income.

Fixed assets have three primary characteristics:

  • They are acquired and held for use in operations but not for sale
  • They should be in long-term use (more than a year)
  • They could be physically possessed

Examples of fixed assets include:

  • Buildings
  • Land
  • Machinery and equipment
  • Furniture and fixtures

These assets are not expected to be converted into cash or consumed in daily use. For example, a building is a fixed asset because it is used in the production of services and is not easily converted into cash. On the other hand, cash and securities are considered liquid assets because they can be easily converted into cash.

Each state may have its own categories of fixed assets. For instance, in Arkansas, a motor vehicle is considered a fixed asset.

fixed annuity | fixed in a tangible medium of expression

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snow
12:17
dont tell them you're not going to attend, but tbh idk
HopefullyInLawSchool
12:18
Ya thats my goal with this, looking at some other mid west schools pretty seriously so I might do a tour of the midwest schools i get accepted into early next year
snow
12:18
i think something along the lines of " I would love to come to x school but x school is offering x amount which plays a role in my goals"
snow
12:18
thats a very rough draft tho
HopefullyInLawSchool
12:19
UC Law SF has a proper form to negotiate
snow
12:19
some schools i applied to were strictly for negotiations lol, i wont say which ones tho
HopefullyInLawSchool
12:19
look on the school's admitted page and if you dig around sometimes therell be a link for it
HopefullyInLawSchool
12:19
@snow same
WorthlessAttractiveZombie
12:20
basically all the schools that sent me CAS waivers are going to be used for negotiations
2big2fail
12:21
@HopefullyInLawSchool: where is that form? is it in the email they sent?
babycat
12:21
@EvolBunny: I think people who are strictly t14 are talking about it less
a 3.96 175 wl berkeley today is brutal
HopefullyInLawSchool
12:23
@2big2fail: you have to go to the admitted students page and dig around, i forgot how exactly i found it but you have to be on that page first.
2big2fail
12:23
ok thanks
2big2fail
12:24
oh i see its "scholarship reconsideration"
12:24
@Acoustic maybe they didn't get their margins right
12:24
@babycat: just like reddit, it appears it is just more "lower" students using the gunner platforms. Reddit last year was basically t14 and then you had outsidet14. Now it seems like we need a t14 only sub
berk wl w those stats is brutal maybe yp?
12:25
It wouldnt be so bad if they didnt get so salty lmfao i do not want to read a post about "wahhhh why can someone with a 3.95/171 even make a chance me post wahhhh"
12:25
Fucking diaper gang over there
12:25
crybaby central
are those my exact stats on purpose what's goin on w these indirects i love drama hol on
HopefullyInLawSchool
12:26
i see a storm brewing
12:27
the biggest mistake on reddit this cycle was not telling everyone up front that it would be the slowest cycle ever
yeah it's going to be super slow
12:27
already seeing people complain about waiting when they could be waiting until march or april
12:27
Those are gen alpha lazy people
12:28
"where is my tiktok ai summary"
yeah even ppl that applied in september realistically im not expecting another decision until like january outside of my ed
12:28
GO read their websites, tons have easy to see timelines
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