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Fixed Asset
(redirected from Long-term asset)

   Also found in: Financial, Wikipedia 0.01 sec.

Property, such as machinery or buildings, utilized in a business that will not be used or liquidated during the current fiscal period.



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During the quarter, Bank of America signed an agreement to sell the long-term asset management business of Columbia Management to Ameriprise Financial for approximately $1 billion, subject to certain adjustments.
Without a developed debt market, many companies reverted to easily accessible short-term loans to finance their growth--including financing investments in long-term assets.
The Bank of America said Wednesday that it had agreed to sell its long-term asset management business Columbia Management to Ameriprise Financial for approximately one billion dollars.
 
 
 
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