Which of the following is a non-current asset?
A) One that is not up to date
B) One that is held for the long term to support the operations of the enterprise
C) One that is expected to be turned into cash in the next twelve months
D) One that is part of the operating cycle
E) One that is held primarily for the purpose of being traded

Question

Quizplus · Accepted Answer

A non-current asset is one that is held for the long term to support the operations of the enterprise. Option A is incorrect as it refers to the current status of an asset, not its classification. Option C refers to a current asset. Option D refers to an operating asset, which can be current or non-current. Option E refers to a trading asset, which can be current or non-current.

Which of the Following Is a Non-Current Asset