Which of the Following Is a CORRECT Statement About Long-Term

question 57

Multiple Choice

Which of the following is a CORRECT statement about long-term assets?

• A)Accumulated depreciation increases the cost of fixed assets on the balance sheet.
• B)Intangible assets are long-term assets with no physical substance.
• C)Long-term investments can never be sold by the company.
• D)Other long-term assets include supplies.

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Definitions:

Standardized Measure

A tool or instrument used to assess variables that have been uniformly applied across different groups to ensure comparability.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched, typically developed during infancy.

Out of Sight

A phrase often referring to something that is not currently visible or present, also used metaphorically to describe something forgotten or not considered.

Phrase

A grouping of words that together express a concept or part of a sentence but does not constitute a complete sentence on its own.