Print. The talus is a small bone that sits between the heel bone (calcaneus) and the two bones of the lower leg (the tibia and fibula). It has an irregular, humped shape like a turtle's shell. The bones of the lower leg ride on top and around the sides to form the ankle joint.
Notice the building was purchased using borrowed money. Although, the bank loan was used to buy the building, it's still considered an asset of The Toy Company. Our point is this, DON'T think of an asset (current or fixed) as something a business owns. Rather, view an asset as a resource that can be used to strengthen a business. Although, The Toy Company doesn't really own the building, it's still considered the company's fixed asset.
Fixed Asset. Definition: A fixed asset is an item with a useful life greater than one reporting period, and which exceeds an entity's minimum capitalization limit.A fixed asset is not purchased with the intent of immediate resale, but rather for productive use within the entity.An inventory item cannot be considered a fixed asset, since it is purchased with the intent of either reselling it directly or incorporating it into a product that is then sold.The following are examples of general categories of fixed assets: 1  Buildings. 2  Computer equipment.n inventory item cannot be considered a fixed asset, since it is purchased with the intent of either reselling it directly or incorporating it into a product that is then sold. The following are examples of general categories of fixed assets: 1  Buildings. 2  Computer equipment.