An example of a long-term asset is:
A) Cash
B) Inventory
C) Fixtures and fittings
D) Prepayments

Name: An example of a long-term asset is: A) Cash B) Inventory C) Fixtures and fittings D) Prepayments
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Question

Quizplus · Accepted Answer

Fixtures and fittings are typically considered long-term assets as they have a useful life greater than one year and are not intended to be sold. Cash and inventory are typically short-term assets, while prepayments can be either short- or long-term depending on their nature.

An Example of a Long-Term Asset Is