Land would appear on the balance sheet as
A) a current asset.
B) a current liability.
C) part of property and equipment.
D) a long-term liability.
E) either a current asset or a current liability.

Question

Quizplus · Accepted Answer

Land is typically classified as part of property and equipment on a company's balance sheet, rather than as a current asset or liability, or as a long-term liability. This is because land is considered a fixed asset that is expected to provide value to the company over a long period of time.

Land Would Appear on the Balance Sheet as