Which line items on the balance sheet would be classified as long term?
A) Cash; Supplies; Accounts Payable.
B) Property, Plant and Equipment; Notes Payable; Other Assets.
C) Supplies; Property, Plant and Equipment; Notes Payable.
D) Total Assets; Total Liabilities; Other Assets.

Question

Quizplus · Accepted Answer

Property, Plant and Equipment and Notes Payable are typically classified as long-term assets and liabilities, respectively, on the balance sheet. Other Assets may also include long-term investments or intangible assets. Cash, Supplies, Accounts Payable, and Total Assets/Liabilities are usually considered current or short-term items on the balance sheet.

Which Line Items on the Balance Sheet Would Be Classified