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.

Solutions

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 1 year ago

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