An Example of a Long-Term Asset Is

question 28

Multiple Choice

An example of a long-term asset is:

• A) Cash
• B) Inventory
• C) Fixtures and fittings
• D) Prepayments

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Definitions:

Square Feet

A unit of area measurement used primarily in the United States, equal to the area of a square with sides of one foot.

Direct Method

A method of preparing the cash flow statement where major classes of gross cash receipts and gross cash payments are disclosed, providing a clear view of cash flow from operating activities.

Service Department

A division within a company responsible for providing support, maintenance, or other services to customers or other departments.

Number of Employees

A count of all individuals working for a company, including full-time, part-time, and temporary workers.