Which one of the following is not a major category for long-term assets?
A) Receivables
B) Property, plant, and equipment
C) Intangibles
D) Goodwill

Question

Quizplus · Accepted Answer

Receivables are not considered long-term assets. They are classified as current assets since they are expected to be collected within one year or less. Long-term assets are those that are expected to provide benefits to the company for more than one year, such as property, plant, and equipment, intangibles, and goodwill.

Which One of the Following Is Not a Major Category