Which of the following are noncurrent assets?

Question

Quizplus · Accepted Answer

Machinery and equipment are considered noncurrent assets because they are expected to have a useful life of more than one year and are not intended for resale.

Answer: C
 Inventories are also considered noncurrent assets because they represent goods or materials that a company expects to sell or use in its operations within a period of more than one year.

Answer: D
 Unearned revenues are actually a liability and not an asset. They represent payments received by a company in advance of goods or services being provided, and as such, they are classified as a current liability.

Therefore, the best choices for noncurrent assets are A and C.

Which of the Following Are Noncurrent Assets