Resources owned by the company that will provide a benefit for more than one year are called:

Question

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Long-term assets are resources owned by a company that are expected to provide a benefit for more than one year. Examples include property, plant and equipment, intangible assets, and long-term investments. Current assets and current liabilities are resources and obligations that are expected to be used or settled within one year. Revenues represent income earned by the company, but do not necessarily relate to resources owned by the company.

Resources Owned by the Company That Will Provide a Benefit