Activities that affect long-term assets are:
A) operating activities.
B) investing activities.
C) financing activities.
D) noncash investing and financing activities.

Question

Quizplus · Accepted Answer

Long-term assets are acquired or disposed of through investing activities, such as purchasing property, plant, and equipment or selling investments. Operating activities are related to the day-to-day operations of the business, while financing activities involve raising funds from investors or repaying debt. Noncash investing and financing activities are transactions that do not involve the exchange of cash, such as exchanging one asset for another.

Activities That Affect Long-Term Assets Are