Multiple Choice
Which of the following is a CORRECT statement about long-term assets?
A) Accumulated depreciation increases the cost of fixed assets on the balance sheet.
B) Intangible assets are long-term assets with no physical substance.
C) Long-term investments can never be sold by the company.
D) Other long-term assets include supplies.
Correct Answer:
Verified
Correct Answer:
Verified
Q52: Accounting is often called the language of
Q53: Receivables are classified as:<br>A)increases in earnings.<br>B)decreases in
Q54: Net income:<br>A)is calculated by subtracting total expenses
Q55: The current portion of a long-term note
Q56: The Balance Sheet is used to prepare
Q58: All of the following line items are
Q59: Which of the following is a TRUE
Q60: A potential investor,interested in predicting the earnings
Q61: The American Institute of Certified Public Accountants
Q62: Current liabilities as reported on the balance