Land acquired so it can be resold in the future is listed on the balance sheet as an
A)fixed asset
B)intangible asset
C)investment
D)current asset

Question

Quizplus · Accepted Answer

Land acquired for the purpose of resale in the future is considered an investment, as it is expected to generate revenue or gain through its resale. It is not a fixed asset, as it is not intended for use in the operations of the business. It is also not an intangible asset or a current asset, as it is a tangible asset that is not expected to be sold or used up in the near future.

Land Acquired So It Can Be Resold in the Future