Which of the following would be considered a long-term asset?
A) Accounts Payable
B) Land
C) Office Supplies
D) Owner, Capital

Name: Which of the following would be considered a long-term asset? A) Accounts Payable B) Land C) Office Supplies D) Owner, Capital
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Question

Quizplus · Accepted Answer

Land is considered a long-term asset as it is expected to provide future economic benefits for a period of more than one year. Accounts Payable and Owner, Capital are liabilities and Office Supplies is a current asset.

Which of the Following Would Be Considered a Long-Term Asset