Fixed assets are assets and property that cannot be easily converted into cash. The public sector deals with those that mainly involve expense, whilst the private sector deals with tangible property such as machinery, factory buildings, and large computer systems.

3. The public sector account analysis reports public accounts (i.e. those applicable to the nation and its people as a whole), whilst the private sector, obviously reports accounts that are congruent, relevant, and applicable just to its own peculiar concerns.

4. The public sector account deals with fixed assets not depreciation, whilst the private sector account deals with fixed assets and depreciation included. In other words, the private sector -- working on matters of gaining profit -- also takes into account the gradual and possible permanent decrease of value in the stock. The public sector, on the other hand, does not concern itself with this matter.

In short, the exercise...
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