Noncurrent assets include:

Question

Quizplus · Accepted Answer

Noncurrent assets are assets that are not expected to be converted into cash or used up within one year or the normal operating cycle of a business, whichever is longer. Land held for a possible future plant site is an example of a noncurrent asset because it is not intended to be sold or used up within the next year or operating cycle. Inventory held for sale, prepaid rent, and accounts receivable are examples of current assets because they are expected to be converted into cash or used up within the next year or operating cycle.

Noncurrent Assets Include