Which of the following are criteria for determining whether to record an asset as a fixed asset?
A)must be tangible and an investment
B)must be long lived and used by the company in its normal operations
C)must be short lived and tangible
D)must be an investment and long lived

Question

Quizplus · Accepted Answer

Fixed assets are long lived and used by the company in its normal course of operations. The other options are incorrect as they do not meet the criteria for an asset to be classified as a fixed asset.

Which of the Following Are Criteria for Determining Whether to Record