Which of the following are criteria for determining whether to record an asset as a fixed asset?
A) must be an investment and long-lived
B) must be long-lived and used by the company in its normal operations
C) must be short-lived and tangible
D) must be tangible and an investment

Question

Quizplus · Accepted Answer

To be recorded as a fixed asset, an asset must be both long-lived and used by the company in its normal operations. None of the other options include both of these criteria.

Which of the Following Are Criteria for Determining Whether to Record