Assets that are NOT expected to provide benefits for a number of accounting periods are called
A) property, plant, and equipment.
B) long-term assets.
C) fixed assets.
D) current assets.

Question

Quizplus · Accepted Answer

Assets that are not expected to provide benefits for a number of accounting periods are classified as current assets. Property, plant, and equipment, long-term assets, and fixed assets are all expected to provide benefits over multiple periods and are therefore classified as long-term assets.

Assets That Are NOT Expected to Provide Benefits for a Number