Which of the Following Is FALSE

question 4

Multiple Choice

Which of the following is FALSE?

• A) Intangible assets are noncurrent assets that do not have physical substance.
• B) Obligations expected to be paid after one year are classified as long-term liabilities.
• C) Current assets are listed in the order of magnitude (size).
• D) Property, plant, and equipment are assets with relatively long useful lives that are used in operating the business.

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