_____ are assets that are expected to provide economic benefits for periods of time greater than one year.
A) Accounts receivables
B) Hard assets
C) Contingent assets
D) Capital assets

Question

Quizplus · Accepted Answer

Capital assets are assets that have a useful life of more than one year and are expected to provide economic benefits to the company for a period greater than one year. Accounts receivables are typically short-term assets and contingent assets may or may not provide economic benefits in the future. Hard assets is a vague term that could refer to any type of physical asset, but does not necessarily indicate a useful life greater than one year.

_____ Are Assets That Are Expected to Provide Economic Benefits