Which of the following items is usually classified as a noncurrent asset?
A) Plant expansion fund
B) Prepaid rent
C) Supplies
D) Goods that are in the process of being completed for another company

Question

Quizplus · Accepted Answer

A plant expansion fund is a long-term investment that is intended to be used to expand a company's operations in the future. As such, it is usually classified as a noncurrent asset. Prepaid rent, supplies, and goods that are in the process of being completed for another company are all current assets.

Which of the Following Items Is Usually Classified as a Noncurrent