Which one of these accounts is classified as a fixed asset on the balance sheet?
A)Intangible assets
B)Accounts payable
C)Preferred stock
D)Inventory
E)Accounts receivable

Question

Quizplus · Accepted Answer

Intangible assets are classified as fixed assets on the balance sheet. These are non-physical assets that have a useful life of more than one year, such as patents, copyrights, and trademarks.

Which One of These Accounts Is Classified as a Fixed