Long-term assets on the Balance Sheet represent assets that will last longer than one operating cycle of the business.

Name: Long-term assets on the Balance Sheet represent assets that will last longer than one operating cycle of the business.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Long-term assets include items such as property, plant, and equipment, which are expected to provide economic benefit for more than one operating cycle of the business. Therefore, they are classified as non-current assets on the Balance Sheet.

Long-Term Assets on the Balance Sheet Represent Assets That Will