Which of the following would be classified as a long-term operational asset?
A)Notes receivable
B)Trademark
C)Inventory
D)Accounts receivable

Question

Quizplus · Accepted Answer

Long-term operational assets include assets,like equipment or buildings,that are used for extended periods of time (two or more accounting periods).Even though it is intangible,a trademark is a long-term operational asset.While a note receivable may be classified as long-term,it is not considered an operational asset.Inventory and accounts receivable are current assets.

Which of the Following Would Be Classified as a Long-Term