In financial terms, how are Fixed Assets categorized?

Fixed assets are categorized as items that contribute to long-term value for the business, which is why this choice is the correct one. These assets are essential in the operation of a business and typically include property, plant, and equipment. They are not intended for quick resale but are rather used over several accounting periods to generate revenue. Their long-term nature is crucial as they help in sustaining the operations and production capacities of the business over time.

In contrast, the other options do not adequately define Fixed Assets. For instance, items that can be quickly sold for cash refer more to current assets or liquid assets, which are different as they are not used in the operational processes over extended periods. Items used within a single billing period would typically be classified as current or short-term assets, rather than fixed assets, which are employed over a longer duration. Lastly, the statement about items that have no depreciable value does not apply, as most fixed assets typically do depreciate (with some exceptions), reflecting their decline in value over time due to usage and wear and tear.