A relatively long-lived asset that is held for use in the production or sale of other assets or services
A) Current Asset
B) Note Receivable (Current)
C) Accounts Receivable
D) Property and Equipment

Question

Quizplus · Accepted Answer

Property and equipment are long-lived assets that are held for use in the production or sale of other assets or services. Current assets such as accounts receivable and note receivable (current) are short-term assets that are expected to be converted into cash within a year.

A Relatively Long-Lived Asset That Is Held for Use in the Production