Which one of the following is not a major category for long-term assets?
A)intangibles
B)property, plant, and equipment
C)inventory
D)long-term investments

Question

Quizplus · Accepted Answer

Inventory is not a long-term asset category, as it is considered a current asset that is expected to be sold, consumed, or converted to cash within a year or operating cycle, whichever is longer. Long-term assets typically have a useful life of more than one year and are not expected to be liquidated or converted to cash quickly. The major categories for long-term assets include intangibles, property, plant, and equipment, and long-term investments.

Which One of the Following Is Not a Major Category