Assets that are expected to provide economic benefits for periods of time greater than one year are called:
A)accounts receivable.
B)short-term investments.
C)capital assets.
D)cash and cash equivalent assets.

Question

Quizplus · Accepted Answer

Capital assets are expected to provide economic benefits for periods of time greater than one year, such as property, plant and equipment. Accounts receivable and short-term investments are typically considered current assets, while cash and cash equivalent assets may or may not be held for longer periods depending on the company's needs.

Assets That Are Expected to Provide Economic Benefits for Periods