Which statement correctly defines fixed assets in a business?

The statement that correctly defines fixed assets in a business is that they include machinery and buildings used in operations. Fixed assets, also known as tangible assets, refer to long-term physical resources that a company acquires for use in its business operations. These assets are not intended for sale in the ordinary course of business, but rather, they are utilized to produce goods or services and to support the company’s operations over an extended period. Examples of fixed assets include property, plant, equipment, and vehicles, all of which are essential for a business to function effectively and efficiently.