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)Accounts Receivable;Property,Plant and Equipment;Other Assets

Question

Quizplus · Accepted Answer

Long term assets typically include Property, Plant and Equipment, and Other Assets that are not expected to be converted to cash within a year. Long term liabilities include Notes Payable, which are not due within a year. Therefore, Choice B is the best option as it includes all long term items.

Which Line Items on the Balance Sheet Would Be Classified