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3 years ago

Items that have a useful life of more than one year and used in the business

Business

1 answer:

djverab [1.8K]3 years ago

6 0

Answer:

They are non-current assets

Explanation:

Items that have a useful life of more than one year and used in the business are non-current assets.

Non-current assets

Non-current assets are assets which represent a longer-term investment and cannot be converted into cash quickly. They are likely to be held by a company for more than a year. They appear in the assets section of balance sheet.

Non-current assets include the following:

Land
Building
Property, plant and equipment
Machinery
Fixture and fittings

These are different from current assets.

Current assets:

Current assets represent all the assets of a company that are expected to be conveniently sold, consumed, utilized or exhausted through the standard business operations, which can lead to their conversion to a cash value over the next one year period. Since current assets is a standard item appearing in the balance sheet, the time horizon represents one year from the date shown in the heading of the company's balance sheet.

Examples of current assets include

Cash,
Cash equivalents,
Accounts receivable,
Stock inventory,
Marketable securities,
Pre-paid liabilities, and other liquid assets.

In a few jurisdictions, the term is also known as current accounts.

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Answer:

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3 years ago

What three major federal taxes bring in most revenue ?

kumpel [21]

Income taxes, payroll taxes, and corporate income taxes.

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3 years ago

A problem that the Fed faces when it attempts to control the money supply is that a. since the U.S. has a fractional-reserve ban

NeTakaya

Answer:

A) since the U.S. has a fractional-reserve banking system, the amount of money in the economy depends in part on the behavior of depositors and bankers.

Explanation:

Since US banks operate under a fractional reserve banking system, they have the capacity to create money through the money multiplier, e.g. you deposit $1,000 in bank A, then bank A borrows $850 to Steven and he purchases a new bike from Sarah. Then Sarah deposits the money in bank B, and bank B borrows $722 to George who buys a laptop from Henry. Henry then deposits the money in bank C, and bank C borrows $614 to Susan, and this goes on and on.

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3 years ago