What are assets that are not easily converted into cash or are expected to be held for longer than a year called?
A) current assets
B) fixed assets
C) intangible assets
D) long-term equity

Question

Quizplus · Accepted Answer

Fixed assets are assets like property, equipment, and buildings that are not easily converted into cash and are expected to be held for a longer period of time, typically more than a year. Current assets, on the other hand, are assets that are expected to be converted into cash within a year, such as cash, accounts receivable, and inventory. Intangible assets refer to non-physical assets such as patents, copyrights, and brand recognition. Long-term equity refers to ownership in a company that is expected to be held for an extended period of time.

What Are Assets That Are Not Easily Converted into Cash