is a car a fixed asset 
it depends on how the car is being used if the car is used in a company s operations to generate income such as a delivery vehicle it may be considered a fixed asset however if the car is used for personal use it is not considered a fixed asset and is not recorded on the company s balance sheet the bottom linea fixed asset is long term tangible property or equipment a company owns and uses to generate income these assets are not expected to be sold or used within a year and are sometimes recorded on the balance sheet as property plant and equipment pp e fixed assets are subject to depreciation whereas intangible assets are amortized fixed assets are often contrasted with current assets which are expected to be converted to cash or used within a year 