From an accounting standpoint, the acquisition of long-lived assets is essentially a(n):
A)accrual of expense.
B)accrual of revenue.
C)accrual of unearned revenue.
D)prepaid expense.

Question

Quizplus · Accepted Answer

The acquisition of long-lived assets is considered a prepaid expense because the cost is paid upfront and the benefits are realized over the asset's useful life.

From an Accounting Standpoint, the Acquisition of Long-Lived Assets Is