Long-lived assets should be reported on the: Select one: a. Statement of owner's equity. b. Income...

Long-lived assets should be reported on the:

Select one:

a. Statement of owner's equity.

b. Income statement under expenses.

c. Balance sheet under current assets.

d. Balance sheet under noncurrent assets.

Expert Solution

Correct answer----d. Balance sheet under non-current assets.

.

Examples of long lived assets includes Equipment, land, machinery, Long term investments etc.

All long lived assets are shown on balance sheet under the head non current assets.

ekkarill92 answered 2 years ago

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