Freehold property

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Freehold property:-

Definition:

Freehold property can be defined as any estate which is "free from hold" of any entity besides the owner. Hence, the owner of such an estate enjoys free ownership for perpetuity and can use the land for any purposes howeve in accordance with the local regulations.


What type of account is freehold property?

Free hold land & Building is considered as fixed assets.


Is freehold property an asset?

While stocks, cash on hand dedtors are considered as current assets, freehold land and building is considered as fixed assets.




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