Assets that are expected to provide economic benefits for several years are referred to as
A)cash assets.
B)short-term assets.
C)capital assets.
D)balance sheet assets.

Question

Quizplus · Accepted Answer

Assets that are expected to provide economic benefits for several years are referred to as capital assets. These assets include property, plant, and equipment, as well as intangible assets such as patents, trademarks, and copyrights. These assets are not intended for sale, but are instead used to support the ongoing operations of the business.

Assets That Are Expected to Provide Economic Benefits for Several