Question

Name the assets which remain in business for a period of more than one year​

Answer 1

Answer:

Assets which remain in the business for more than one year are known as fixed assets. Assets which remain in the business for a shorter duration are known as current assets.

Explanation:

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Answer 2

Answer:

Explanation:

Long-lived assets, also referred to as non-current assets or long-term assets, are assets that are expected to provide economic benefits over a future period of time, typically greater than one year. Long-lived assets may be tangible, intangible, or financial assets.