Fill in the blank:Buildings,equipment,andlong-term investments are all examples of _____.
Choose an answer
Tap an option to check your answer.
Correct answer: fixed assets.
Why this is the answer
The correct answer is fixed assets.Fixed assets refer to tangible assets that a company owns and uses for its operations over an extended period,typically beyond one accounting period.Examples of fixed assets include buildings,machinery, equipment,vehicles,andland.These assets are not intended for resale and are expected to provide long-term value to the company.Fixed assets are recorded on the balance sheet and are typically depreciated over their useful life,reflecting the gradual reduction in their value overtime.Bycontrast,current assets are assets that are expected to be converted into cash or used up within one year,while current liabilities represent debts or obligations that are due within one year.Therefore,among the options provided,fixed assets accurately describe buildings,equipment,andlong-term investments,making the selected answer correct.
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