Which of the following would be listed as a long-term asset?
A)Cash.
B)Supplies.
C)Buildings and equipment.
D)Total assets.

Question

Quizplus · Accepted Answer

Buildings and equipment are examples of long-term assets as they have a useful life of more than one year and are intended to be used in the production or sale of goods or services. Cash and supplies are considered short-term assets. "Total assets" is not a specific asset and therefore cannot be classified as short-term or long-term.

Which of the Following Would Be Listed as a Long-Term