An operational asset used for a long period of time is known as a capital asset.

Question

Quizplus · Accepted Answer

This statement is true. Capital assets are long-term assets that are used in the operations of a business, such as property, plant, and equipment, and are recorded on the balance sheet as assets. They are typically used for more than one accounting period and are expected to provide economic benefits to the company over a long period of time.

An Operational Asset Used for a Long Period of Time