Which of the following is a long-lived asset?
A)Land on which a new store is located
B)Land purchased for resale next month
C)Cash
D)Retained earnings

Question

Quizplus · Accepted Answer

Long-lived assets are business assets acquired for use over one or more years.These assets are not intended for resale.Instead,they are considered "productive" assets in the sense that they enable the business to produce the goods or services that the business then sells to customers.Land on which a new store is located would be an example of a long-lived asset.

Which of the Following Is a Long-Lived Asset