Three common categories of long-term assets are: 1) property, plant, and equipment, 2) long-term investments, and 3) intangibles.

Question

Quizplus · Accepted Answer

This statement is true. Long-term assets are generally those that a company holds onto for more than one year and that are not intended for sale in the near future. The three categories listed (property, plant, and equipment; long-term investments; and intangibles) are common examples of long-term assets.

Three Common Categories of Long-Term Assets Are: 1) Property, Plant