Answered: What kind of assets are relatively…

Business

Accounting

What kind of assets are relatively long-lived and depreciate over time?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 1MC: Property, Plant, and Equipment is considered why type of asset? A. current assets B. contra assets...

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Question

What kind of assets are relatively long-lived and depreciate over time?

Group of answer choices

cash

current assets like cash and accounts receivable

land

fixed assets (property, plant and equipment assets)

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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