Terms Beginning With 'l'

Long-Term Assets

  • January 15, 2020
  • Team Kalkine

A long-term asset is defined as an asset that is not supposed to be switched to cash or be consumed within a minimum time period of one year of the date indicated in the heading of the balance sheet.

In another words, a long-term asset does not encounter the standards of being a current asset. Long-term assets include- long-term investment; property, plant and equipment; intangible asset and deferred charges.

 

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