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pashok25 [27]
1 year ago
6

Buildings, land, and equipment are classified as ________. question content area bottom part 1 a. current liabilities b. longter

m liabilities c. longterm assets d. current assets
Social Studies
1 answer:
Delvig [45]1 year ago
5 0

Buildings, land, and equipment are classified as b. longterm liabilities

<h3>What is a long term asset?</h3>
  • Long-term assets are those that a company can expect to utilise, replace, and/or convert to cash after the regular operating cycle of at least 12 months.
  • Long-term assets, like current assets, appear on the balance sheet. They represent the entirety of a company's assets.
  • Each year, the portion of long-term assets consumed appears on the income statement, either as amortisation charges for tangible and intangible assets or as depletion expenses for natural resources.

learn more about long term asset refer:

brainly.com/question/9929994

#SPJ4

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