Which of the Following Is NOT a Long-Term Asset

question 124

Multiple Choice

Which of the following is NOT a long-term asset?

• A) Equipment
• B) Land
• C) Buildings
• D) Accounts receivable

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Definitions:

Parity Concept

A principle in economics or finance where two currencies, securities, or commodities have the same value or purchasing power.

Farm Commodities

Agricultural products such as grains, milk, cattle, fruits, and vegetables that are usually sold to processors, who use the products as inputs in creating food products.

Parity Ratio

A ratio used to compare the price of a commodity to some base level, reflecting its purchasing power historically.

Prices Paid

The sum of money spent by consumers to purchase products or services.