Asked by
abhishek choudhary
on Nov 18, 2024
Verified
Long-lived assets held for sale are classified as fixed assets.
Long-Lived Assets
Assets with a useful life longer than one year, such as buildings, machinery, and equipment, used in the operation of a business.
Held for Sale
Assets or business segments classified as being available for immediate sale and expected to be sold within one year.
- Acquire knowledge on the components and classification system of fixed assets.
Verified Answer
KS
Learning Objectives
- Acquire knowledge on the components and classification system of fixed assets.
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