Long-Term Asset Categories Include Investments; Property,plant,and Equipment; and Intangible Assets

question 59

True/False

Long-term asset categories include investments; property,plant,and equipment; and intangible assets.

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Definitions:

Defined Benefit Plan

A retirement plan in which an employer commits to paying a specified pension amount to employees upon retirement, based on factors like salary history and length of employment.

Defined Contribution Plan

A type of retirement plan where employees, employers, or both make contributions on a regular basis, but the benefits received at retirement depend on the performance of the investments.

Vested

A status where an employee has earned the right to receive full benefits from an employer's pension or retirement plan, typically after a specified period of service.

Employer

An individual or organization that hires and pays people to work for them.